Overview
Advantage Energy Ltd. is an independent oil and gas production company based in Canada, primarily operating within the Montney Resource Play in Alberta and British Columbia. The company focuses on the exploitation, development, and acquisition of natural gas and oil properties. A key project for Advantage Energy includes the development of its Glacier Gas Plant, which has significantly boosted its gas processing capacity, enhancing its operational efficiency and production scalability. Through strategic infrastructure development and leveraging advanced technologies in horizontal drilling and multistage fracturing, the company aims to maximize resource recovery and operational sustainability, ensuring robust economic returns in the competitive energy sector.
Basic Stats
The share price of Advantage Energy Ltd. as of September 5, 2025 is $11.32 / share. This is an increase of 1.89% from the prior week. The market cap (or net worth) of Advantage Energy Ltd. as of September 5, 2025 is $1,890.61 MM.
The Factor Analysis chart (below right) shows a view of Advantage Energy Ltd. from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | 1,890.61 MM |
| EV | 2,697.58 MM |
| Shares Out. | 167.02 MM |
| Earnings Date | |
| EPS (TTM) | 0.32 |
| Dividend Yield | |
| Ex-Dividend Date | |
| Borrow Rate | 0.88 |
| Short Shares Avail. | 0.95 MM |
| Short Interest | |
| Short Float | |
| Days to Cover | |
| Risk Free Rate | 4.17 % |
| Price Change (1 yr) | 23.04 % |
| Volatility (1 yr) | 0.38 |
| Beta | 0.65 |
| Sharpe Ratio (1 yr) | 0.50 |
| Sortino Ratio (1 yr) | 0.80 |
| PE Ratio | 35.49 |
| Price/Book | 1.15 |
| Price/TBV | 1.15 |
| Book/Market | 0.87 |
| EBIT/EV | 0.03 |
| EBIT(3yr avg)/EV | 0.05 |
| ROA | 0.02 |
| ROE | 0.03 |
| ROIC | 0.02 |
| CROIC | 0.02 |
| OCROIC | 0.12 |
| Implied Volatility | |
| Put/Call OI Ratio |
| Growth | 21.19 /100 |
| Profitability | 60.24 /100 |
| Quality Score | 72.18 /100 |
| Value Score | 69.41 /100 |
| Momentum Score | 53.01 /100 |
| Stability (Low Vol) Score | 57.88 /100 |
| Analyst Sentiment | 69.55 /100 |
| Fund Sentiment | 73.84 /100 |
| Insider Sentiment | |
| Officer Sentiment | |
| Dividend Score | |
| QVM Score | |
| Piotroski F-SCORE | 5.00 /9 |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for Advantage Energy Ltd. is $14.58. The forecasts range from a low of $12.12 to a high of $21.00. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for Advantage Energy Ltd.. An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2022-12-02 | STA Research | Hold | Maintains | |
| 2022-12-02 | Scotiabank Capital | Outperform | Maintains | |
| 2022-11-08 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-10-28 | STA Research | Hold | Maintains | |
| 2022-10-28 | Scotiabank Capital | Outperform | Maintains | |
| 2022-10-28 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-10-07 | CIBC Capital Markets | Upgrade | ||
| 2022-09-30 | National Bank of Canada Financial | Outperform | Maintains | |
| 2022-09-29 | STA Research | Hold | Maintains | |
| 2022-09-29 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-09-19 | Scotiabank Capital | Upgrade | ||
| 2022-08-22 | STA Research | Hold | Maintains | |
| 2022-08-22 | CIBC Capital Markets | Neutral | Upgrade | |
| 2022-08-04 | Stifel Nicolaus Research | Buy | Upgrade | |
| 2022-08-02 | Cormark Securities | Buy | Upgrade | |
| 2022-07-29 | STA Research | Hold | Maintains | |
| 2022-07-29 | Scotiabank Capital | Outperform | Maintains | |
| 2022-07-29 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-07-29 | BMO Financial | Upgrade | ||
| 2022-07-18 | National Bank of Canada Financial | Outperform | Downgrade | |
| 2022-07-11 | Stifel Nicolaus Research | Buy | Downgrade | |
| 2022-07-08 | National Bank of Canada Financial | Outperform | Upgrade | |
| 2022-07-07 | STA Research | Hold | Downgrade | |
| 2022-07-07 | Scotiabank Capital | Outperform | Maintains | |
| 2022-07-07 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-06-17 | Cormark Securities | Buy | Upgrade | |
| 2022-06-16 | National Bank of Canada Financial | Outperform | Upgrade | |
| 2022-06-15 | CIBC Capital Markets | Neutral | Upgrade | |
| 2022-05-02 | TD Research | Buy | Upgrade | |
| 2022-05-02 | Standpoint Research | Buy | Upgrade | |
| 2022-05-02 | Raymond James Capital | Outperform | Initiate | |
| 2022-04-29 | STA Research | Hold | Maintains | |
| 2022-04-29 | Scotiabank Capital | Outperform | Maintains | |
| 2022-04-29 | BMO Financial | Outperform | Upgrade | |
| 2022-04-14 | National Bank of Canada Financial | Outperform | Initiate | |
| 2022-04-12 | Cormark Securities | Buy | Upgrade | |
| 2022-04-11 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-04-08 | STA Research | Hold | Maintains | |
| 2022-04-08 | Scotiabank Capital | Outperform | Maintains | |
| 2022-04-08 | RBC Royalbank | Sector Perform | Upgrade | |
| 2022-03-30 | STA Research | Hold | Initiate | |
| 2022-03-29 | Scotiabank Capital | Outperform | Upgrade | |
| 2022-03-29 | Cormark Securities | Buy | Upgrade | |
| 2022-03-29 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-03-25 | Raymond James Capital | Outperform | Upgrade | |
| 2022-03-08 | Scotiabank Capital | Outperform | Upgrade | |
| 2022-03-03 | CIBC Capital Markets | Upgrade | ||
| 2022-02-28 | TD Research | Buy | Upgrade | |
| 2022-02-28 | Raymond James Capital | Outperform | Upgrade | |
| 2022-02-28 | Cormark Securities | Buy | Upgrade | |
| 2022-02-25 | Scotiabank Capital | Outperform | Initiate | |
| 2022-01-20 | Tudor Pickering | Buy | Initiate | |
| 2022-01-13 | Scotiabank Capital | Outperform | Upgrade | |
| 2022-01-13 | CIBC Capital Markets | Neutral | Downgrade | |
| 2022-01-06 | National Bank Financial | Outperform | Upgrade | |
| 2022-01-04 | Raymond James Financial | Outperform | Initiate | |
| 2021-12-31 | CIBC Capital Markets | Outperform | Maintains | |
| 2021-12-07 | Tudor Pickering | Buy | Upgrade | |
| 2021-12-07 | ScotiaBankFinancial | Outperform | Maintains | |
| 2021-12-07 | RaymondJamesFinancial | Outperform | Initiate | |
| 2021-12-07 | CIBC WM | Outperform | Maintains | |
| 2021-11-01 | TD Securities | Buy | Upgrade | |
| 2021-11-01 | RBC Capital | Sector Perform | Upgrade | |
| 2021-11-01 | Raymond James Financial | Outperform | Initiate | |
| 2021-10-29 | Tudor Pickering | Buy | Initiate | |
| 2021-10-29 | Sbank | Outperform | Initiate | |
| 2021-10-29 | CIBC World Markets | Outperform | Upgrade | |
| 2021-10-18 | Raymond James Financial | Outperform | Upgrade | |
| 2021-10-18 | CIBC World Markets | Outperform | Maintains | |
| 2021-10-15 | Sbank | Outperform | Maintains | |
| 2021-10-15 | CIBC World Markets | Upgrade | ||
| 2021-10-14 | Sbank | Upgrade | ||
| 2021-10-13 | Tudor Pickering | Buy | Upgrade | |
| 2021-10-12 | CIBC World Markets | Outperform | Maintains | |
| 2021-09-02 | TD Securities | Buy | Upgrade | |
| 2021-09-02 | Raymond James Financial | Outperform | Upgrade | |
| 2021-09-01 | Tudor Pickering | Buy | Initiate | |
| 2021-09-01 | CIBC World Markets | Sector Perform | Upgrade | |
| 2021-08-03 | Raymond James Financial | Outperform | Initiate | |
| 2021-07-30 | CIBC World Markets | Outperform | Maintains | |
| 2021-07-29 | Tudor Pickering | Buy | Initiate | |
| 2021-07-28 | Tudor Pickering | Buy | Initiate | |
| 2021-07-15 | Sbank | Upgrade | ||
| 2021-07-14 | CIBC World Markets | Upgrade | ||
| 2021-07-09 | Tudor Pickering | Buy | Upgrade | |
| 2021-06-30 | Raymond James Financial | Outperform | Initiate | |
| 2021-06-21 | BMO Capital Markets | Upgrade | ||
| 2021-06-17 | National Bank Financial | Outperform | Upgrade | |
| 2021-06-15 | Cormark Securities | Buy | Upgrade | |
| 2021-06-04 | RBC Capital | Sector Perform | Upgrade | |
| 2021-06-04 | Cormark Securities | Buy | Upgrade | |
| 2021-06-04 | CIBC World Markets | Upgrade | ||
| 2021-06-03 | Tudor Pickering | Buy | Upgrade | |
| 2021-06-03 | RBC Capital | Sector Perform | Maintains | |
| 2021-05-04 | RBC Capital | Sector Perform | Maintains | |
| 2021-05-04 | CIBC World Markets | Outperform | Maintains | |
| 2021-05-03 | Raymond James Financial | Outperform | Initiate | |
| 2021-05-03 | Cormark Securities | Buy | Initiate | |
| 2021-04-30 | Tudor Pickering | Buy | Upgrade | |
| 2021-04-30 | TD Securities | Buy | Upgrade | |
| 2021-04-30 | RBC Capital | Sector Perform | Maintains | |
| 2021-04-15 | Sbank | Outperform | Upgrade | |
| 2021-04-15 | National Bank Financial | Outperform | Upgrade | |
| 2021-04-15 | CIBC World Markets | Outperform | Upgrade | |
| 2021-04-15 | BMO Capital Markets | Outperform | Upgrade | |
| 2021-04-14 | RBC Capital | Sector Perform | Maintains | |
| 2021-04-14 | CIBC World Markets | Outperform | Upgrade | |
| 2021-04-07 | Raymond James Financial | Outperform | Initiate | |
| 2021-04-07 | CIBC World Markets | Outperform | Upgrade | |
| 2021-04-06 | TD Securities | Buy | Upgrade | |
| 2021-04-06 | RBC Capital | Sector Perform | Maintains | |
| 2021-04-06 | BMO Capital Markets | Upgrade | ||
| 2021-04-01 | Tudor Pickering | Buy | Initiate | |
| 2021-04-01 | Raymond James Financial | Outperform | Initiate | |
| 2021-04-01 | CIBC World Markets | Outperform | Upgrade | |
| 2021-03-17 | Raymond James Financial | Outperform | Upgrade | |
| 2021-03-01 | Tudor Pickering | Buy | Maintains | |
| 2021-03-01 | TD Securities | Buy | Upgrade | |
| 2021-03-01 | Raymond James Financial | Outperform | Maintains | |
| 2021-03-01 | National Bank Financial | Sector Perform | Upgrade | |
| 2021-03-01 | CIBC World Markets | Upgrade | ||
| 2021-03-01 | BMO Capital Markets | Market Perform | Upgrade | |
| 2021-02-26 | RBC Capital | Sector Perform | Upgrade | |
| 2021-02-19 | National Bank Financial | Upgrade | ||
| 2021-01-28 | CIBC World Markets | Downgrade | ||
| 2021-01-15 | Sbank | Buy | Maintains | |
| 2021-01-15 | Raymond James Financial | Outperform | Upgrade | |
| 2021-01-14 | Sbank | Upgrade | ||
| 2021-01-12 | Tudor Pickering | Hold | Buy | Upgrade |
| 2020-10-30 | Tudor Pickering | Hold | Initiate | |
| 2020-10-09 | TD Securities | Buy | Upgrade | |
| 2020-07-15 | Raymond James Financial | Outperform | Upgrade | |
| 2020-04-23 | National Bank Financial | Outperform | Upgrade | |
| 2020-04-14 | Tudor Pickering | Hold | Initiate | |
| 2020-04-14 | TD Securities | Buy | Upgrade | |
| 2020-04-14 | Sbank | Upgrade | ||
| 2020-04-14 | RBC Capital | Sector Perform | Upgrade | |
| 2020-04-14 | Raymond James Financial | Market Perform | Outperform | Upgrade |
| 2020-04-14 | National Bank Financial | Outperform | Upgrade | |
| 2020-04-14 | CIBC World Markets | Upgrade | ||
| 2020-04-08 | Sbank | Downgrade | ||
| 2020-03-16 | RBC Capital | Downgrade | ||
| 2020-03-12 | Raymond James Financial | Market Perform | Downgrade | |
| 2020-03-10 | National Bank Financial | Outperform | Downgrade | |
| 2019-11-18 | TD Securities | Action List Buy | Buy | Downgrade |
| 2019-11-04 | TD Securities | Action List Buy | Downgrade | |
| 2019-11-04 | Raymond James Financial | Outperform | Initiate | |
| 2019-10-02 | National Bank Financial | Upgrade | ||
| 2019-08-06 | GMP Securities | Upgrade | ||
| 2019-07-18 | RBC Capital | Downgrade | ||
| 2019-07-18 | CIBC World Markets | Downgrade | ||
| 2019-06-28 | GMP Securities | Downgrade | ||
| 2019-06-25 | National Bank Financial | Outperform | Downgrade | |
| 2019-05-03 | Raymond James Financial | Market Perform | Initiate | |
| 2019-03-04 | TD Securities | Buy | Upgrade | |
| 2019-03-04 | BMO Capital Markets | 3 | Initiate | |
| 2019-03-01 | Raymond James Financial | Market Perform | Upgrade | |
| 2019-02-13 | TD Securities | Buy | Downgrade | |
| 2019-02-13 | Raymond James Financial | Market Perform | Initiate | |
| 2019-01-09 | Raymond James Financial | Downgrade | ||
| 2019-01-08 | RBC Capital | Downgrade | ||
| 2018-12-13 | GMP Securities | Downgrade | ||
| 2018-12-10 | National Bank Financial | Outperform | Downgrade | |
| 2018-11-05 | Raymond James Financial | Market Perform | Downgrade | |
| 2018-11-05 | Desjardins Securities | Downgrade | ||
| 2018-11-05 | BMO Capital Markets | Downgrade | ||
| 2018-10-09 | BMO Capital Markets | Downgrade | ||
| 2018-10-05 | Raymond James Financial | Downgrade | ||
| 2018-08-07 | TD Securities | Buy | Upgrade | |
| 2018-08-07 | Raymond James Financial | Outperform | Market Perform | Downgrade |
| 2018-08-03 | Raymond James | Outperform | Market Perform | Downgrade |
| 2018-07-20 | CIBC World Markets | Downgrade | ||
| 2018-05-07 | Desjardins Securities | Downgrade | ||
| 2018-04-23 | Raymond James Financial | Outperform | Downgrade | |
| 2018-04-20 | National Bank Financial | Outperform | Downgrade | |
| 2018-04-20 | Eight Capital | Downgrade | ||
| 2018-03-20 | CIBC World Markets | Upgrade | ||
| 2018-03-07 | TD Securities | Buy | Downgrade | |
| 2018-03-06 | BMO Capital Markets | Market Perform | Initiate | |
| 2018-02-05 | Raymond James Financial | Downgrade | ||
| 2018-01-23 | CIBC World Markets | Downgrade | ||
| 2018-01-09 | National Bank Financial | Outperform | Downgrade | |
| 2017-12-13 | RBC Capital | Neutral | Downgrade | |
| 2017-12-13 | National Bank Financial | Outperform | Downgrade | |
| 2017-12-12 | BMO Capital Markets | Downgrade | ||
| 2017-11-03 | Credit Suisse | Downgrade | ||
| 2017-10-10 | BMO Capital Markets | Market Perform | Reiterate | |
| 2017-10-10 | BMO Capital | Outperform | Market Perform | Downgrade |
| 2017-07-20 | RBC Capital | Outperform | Sector Perform | Downgrade |
| 2017-05-15 | Raymond James Financial | Outperform | Maintains | |
| 2017-02-09 | Credit Suisse | 13 | Maintains | |
| 2017-01-19 | Raymond James Financial | Outperform | Maintains | |
| 2016-12-21 | BMO Capital Markets | 11.5 | Maintains | |
| 2016-11-29 | Raymond James Financial | Outperform | Maintains | |
| 2016-10-19 | CIBC World Markets | 11 | Maintains | |
| 2016-10-14 | Raymond James Financial | 12.75 | Maintains | |
| 2016-10-14 | Credit Suisse | Neutral | Outperform | Maintains |
| 2016-10-13 | RBC Capital | 12 | Maintains | |
| 2016-10-13 | Desjardins Securities | 11 | Maintains | |
| 2016-08-08 | Sbank | Outperform | Maintains | |
| 2016-07-21 | TD Securities | Buy | Maintains | |
| 2016-07-21 | BMO Capital Markets | Outperform | Maintains | |
| 2016-07-21 | BMO Capital | Outperform | Initiate | |
| 2016-07-07 | Sbank | Outperform | Maintains | |
| 2016-06-28 | Desjardins Securities | 10 | Maintains | |
| 2016-06-06 | Raymond James Financial | 10 | Maintains | |
| 2016-01-14 | CIBC World Markets | 9.5 | Maintains | |
| 2015-12-17 | National Bank Financial | Outperform | Maintains | |
| 2015-12-17 | First Energy | 9.75 | Maintains | |
| 2015-12-17 | Credit Suisse | 7.25 | Maintains | |
| 2015-10-15 | Sbank | Sector Outperform | Maintains | |
| 2015-09-18 | First Energy | Outperform | Maintains | |
| 2015-09-08 | CIBC World Markets | Sector Outperform | Initiate | |
| 2015-07-08 | Sbank | 10 | Maintains | |
| 2015-05-08 | RBC Capital | Outperform | Maintains | |
| 2015-01-15 | CIBC World Markets | 10 | Maintains | |
| 2014-12-17 | RBC Capital | Outperform | Maintains | |
| 2014-04-10 | Sbank | Sector Outperform | Maintains | |
| 2014-03-28 | National Bank Financial | Sector Perform | Maintains | |
| 2014-02-05 | BMO Capital Markets | Underperform | Maintains | |
| 2013-09-24 | Sbank | 6 | Maintains | |
| 2013-05-22 | RBC Capital | Sector Perform | Maintains | |
| 2013-05-22 | National Bank Financial | 5.5 | Maintains | |
| 2013-05-10 | Sbank | 5 | Maintains | |
| 2013-03-28 | TD Securities | Hold | Buy | Upgrade |
| 2013-03-14 | Stifel Nicolaus | Hold | Buy | Upgrade |
| 2013-03-14 | Raymond James Financial | 4 | Maintains | |
| 2013-02-07 | CIBC World Markets | Sector Perform | Maintains | |
| 2013-02-06 | BMO Capital | Underperform | Maintains | |
| 2013-01-22 | CIBC World Markets | 3.75 | Maintains | |
| 2023-04-17 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-04-13 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-04-13 | CIBC CAPITAL MARKETS | Outperform | Neutral | Downgrade |
| 2023-04-13 | TUDOR PICKERING & CO. SEC | Buy | Buy | Maintains |
| 2022-08-03 | STIFEL CANADA | Buy | Buy | Maintains |
| 2022-06-27 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2022-04-18 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2022-02-25 | TD SECURITIES | Buy | Buy | Maintains |
| 2021-12-31 | CIBC CAPITAL MARKETS | Neutral | Outperform | Upgrade |
| 2021-08-03 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2021-07-28 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-04-10 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-04-06 | RAYMOND JAMES LTD. | Strong Buy | Outperform | Downgrade |
| 2023-03-29 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-02-26 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-02-24 | PARADIGM CAPITAL | Buy | Buy | Maintains |
| 2023-02-24 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-01-03 | RAYMOND JAMES LTD. | Outperform | Strong Buy | Upgrade |
| 2021-04-06 | IA CAPITAL MARKETS | Buy | Buy | Maintains |
| 2021-04-01 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2020-07-27 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2023-06-05 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-06-05 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-06-05 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-06-04 | TUDOR PICKERING & CO. SEC | Buy | Buy | Maintains |
| 2023-06-04 | RAYMOND JAMES LTD. | Strong Buy | Outperform | Downgrade |
| 2023-06-04 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-06-04 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-06-04 | CIBC CAPITAL MARKETS | Outperform | Neutral | Downgrade |
| 2023-05-14 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-04-27 | PARADIGM CAPITAL | Buy | Buy | Maintains |
| 2023-01-02 | RAYMOND JAMES LTD. | Outperform | Strong Buy | Upgrade |
| 2022-08-02 | STIFEL CANADA | Buy | Buy | Maintains |
| 2022-06-26 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2022-04-17 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2022-02-24 | TD SECURITIES | Buy | Buy | Maintains |
| 2021-12-30 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2021-08-02 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2021-07-27 | TD SECURITIES | Buy | Buy | Maintains |
| 2021-04-05 | IA CAPITAL MARKETS | Buy | Buy | Maintains |
| 2023-08-28 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2023-08-27 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-08-27 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-08-27 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2023-08-20 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-07-27 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-07-27 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-07-26 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-07-03 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2023-12-21 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2023-12-21 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-12-20 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-12-20 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-12-20 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-12-20 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-12-20 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2023-12-01 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-11-13 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2023-08-29 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2023-08-28 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-08-28 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-08-28 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2023-08-21 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-07-28 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-07-28 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-07-27 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-07-04 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2023-06-06 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-06-06 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-06-06 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-06-05 | TUDOR PICKERING & CO. SEC | Buy | Buy | Maintains |
| 2023-06-05 | RAYMOND JAMES LTD. | Strong Buy | Outperform | Downgrade |
| 2023-06-05 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-06-05 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-06-05 | CIBC CAPITAL MARKETS | Outperform | Neutral | Downgrade |
| 2023-05-15 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-04-28 | PARADIGM CAPITAL | Buy | Buy | Maintains |
| 2021-12-31 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2024-08-01 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2024-07-28 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2024-07-25 | TD COWEN | Buy | Buy | Maintains |
| 2024-07-25 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2024-07-24 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2024-07-24 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2024-07-24 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2024-05-07 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2024-04-25 | STIFEL CANADA | Buy | Buy | Maintains |
| 2024-03-19 | TD SECURITIES | Buy | Buy | Maintains |
| 2024-01-18 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2023-12-20 | RAYMOND JAMES LTD. | Outperform | Outperform | Maintains |
| 2023-12-20 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-12-19 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-12-19 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2023-12-19 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2023-12-19 | STIFEL CANADA | Buy | Buy | Maintains |
| 2023-12-19 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2023-11-30 | TD SECURITIES | Buy | Buy | Maintains |
| 2023-11-12 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2025-01-04 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2024-12-17 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2024-12-17 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2024-12-10 | TD COWEN | Buy | Buy | Maintains |
| 2024-12-10 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2024-12-10 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2025-04-06 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2025-04-02 | TD COWEN | Buy | Buy | Maintains |
| 2025-03-22 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2025-03-17 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2025-03-06 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2025-03-05 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2025-03-03 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2025-02-17 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2025-07-16 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2025-07-15 | ATB CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2025-07-13 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2025-07-06 | TD COWEN | Buy | Buy | Maintains |
| 2025-07-05 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2025-07-03 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2025-06-15 | PETERS & CO., LIMITED | Outperform | Outperform | Maintains |
| 2025-05-01 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
