Analyst Ratings Published by TD Securities

2/28/18	Upgrades	Hold Buy	X
AEM Agnico-Eagle Mines TD Securities
12/7/21	Upgrades	Hold Buy	X
AG First Majestic Silver TD Securities
4/19/23	Downgrades	Buy Hold	X
AGI Alamos TD Securities
11/14/22	Downgrades	Buy Hold	X
AQN Algonquin Power & Utilities TD Securities
6/29/21	Upgrades	Hold Buy	X
AR Antero Resources TD Securities
$12 $18.50
7/5/18	Initiated	Buy	X
AR Antero Resources TD Securities
1/23/23	Downgrades	Buy Hold	X
ATUS Altice USA TD Securities
$6
6/17/21	Upgrades	Hold Buy	X
ATUS Altice USA TD Securities
$40 $43
12/20/24	Upgrades	Hold Buy	X
BB BlackBerry TD Securities
$4
3/31/23	Upgrades	Reduce Hold	X
BB BlackBerry TD Securities
$4
6/25/21	Downgrades	Hold Reduce	X
BB BlackBerry TD Securities
2/2/24	Downgrades	Buy Hold	X
BCE BCE Inc TD Securities
1/3/24	Upgrades	Hold Buy	X
BCE BCE Inc TD Securities
9/1/23	Downgrades	Buy Hold	X
BCE BCE Inc TD Securities
1/23/23	Downgrades	Buy Hold	X
BCE BCE Inc TD Securities
10/13/22	Upgrades	Hold Buy	X
BCE BCE Inc TD Securities
11/5/21	Downgrades	Buy Hold	X
BCE BCE Inc TD Securities
6/18/19	Upgrades	Hold Buy	X
BCE BCE Inc TD Securities
10/18/22	Resumed	Buy	X
BEP Brookfield Renewable Partners TD Securities
$41
5/9/22	Upgrades	Hold Buy	X
BEP Brookfield Renewable Partners TD Securities
$41
12/16/21	Upgrades	Hold Buy	X
BEP Brookfield Renewable Partners TD Securities
$41
8/15/19	Upgrades	Hold Buy	X
BHC Bausch Health TD Securities
9/23/22	Resumed	Buy	X
BIP Brookfield Infrastructure TD Securities
$49
8/12/24	Downgrades	Hold Sell	X
BLDP Ballard Power TD Securities
11/8/22	Downgrades	Speculative Buy Hold	X
BLDP Ballard Power TD Securities
$11 $6.50
1/14/21	Downgrades	Speculative Buy Hold	X
BLDP Ballard Power TD Securities
8/27/24	Downgrades	Buy Hold	X
BMO Bank of Montreal TD Securities
11/4/24	Upgrades	Hold Buy	X
BNS Bank of Nova Scotia TD Securities
3/10/22	Downgrades	Buy Hold	X
BNS Bank of Nova Scotia TD Securities
10/25/21	Initiated	Hold	X
BP BP TD Securities
$31
3/1/23	Upgrades	Hold Buy	X
BTE Baytex Energy Trust TD Securities
6/19/18	Upgrades	Hold Buy	X
BTE Baytex Energy Trust TD Securities
1/6/25	Downgrades	Buy Hold	X
CAE CAE TD Securities
5/2/19	Downgrades	Buy Hold	X
CCJ Cameco TD Securities
3/11/25	Initiated	Buy	X
CDE Coeur Mining TD Securities
$7
7/5/18	Initiated	Buy	X
CDEV Centennial Resource Development TD Securities
5/31/23	Upgrades	Hold Buy	X
CGAU Centerra Gold TD Securities
10/1/21	Upgrades	Hold Buy	X
CHTR Charter Comm TD Securities
6/17/21	Upgrades	Hold Buy	X
CHTR Charter Comm TD Securities
$750 $800
7/18/19	Downgrades	Buy Hold	X
CHTR Charter Comm TD Securities
1/16/19	Initiated	Buy	X
CHTR Charter Comm TD Securities
$385
10/30/18	Upgrades	Hold Buy	X
CLR Continental Resources TD Securities
7/5/18	Initiated	Hold	X
CLR Continental Resources TD Securities
7/28/23	Upgrades	Hold Buy	X
CLS Celestica TD Securities
1/26/21	Upgrades	Hold Buy	X
CMCSA Comcast TD Securities
$54 $58
1/8/24	Downgrades	Buy Hold	X
CNI Canadian Nat’l Rail TD Securities
1/8/24	Downgrades	Buy Hold	X
CP Canadian Pacific TD Securities
10/5/18	Upgrades	Hold Buy	X
CP Canadian Pacific TD Securities
1/7/19	Upgrades	Hold Buy	X
CPG Crescent Point Energy TD Securities
7/27/18	Upgrades	Hold Buy	X
CRHM CRH Medical TD Securities
4/18/22	Downgrades	Buy Hold	X
CSX CSX TD Securities
$41 $38
7/22/21	Upgrades	Hold Buy	X
CSX CSX TD Securities
$36 $38
10/22/18	Upgrades	Hold Buy	X
CVE Cenovus Energy TD Securities
7/5/18	Initiated	Hold	X
CXO Concho Resources TD Securities
5/27/22	Upgrades	Hold Speculative Buy	X
DNN Denison Mines TD Securities
6/2/23	Downgrades	Buy Hold	X
DOOO BRP Inc. TD Securities
2/6/19	Upgrades	Reduce Hold	X
EGO Eldorado Gold TD Securities
9/6/18	Downgrades	Hold Reduce	X
EGO Eldorado Gold TD Securities
1/15/25	Initiated	Buy	X
ENB Enbridge TD Securities
12/15/22	Downgrades	Buy Hold	X
EOG EOG Resources TD Securities
8/5/22	Upgrades	Hold Buy	X
EOG EOG Resources TD Securities
$135
3/24/22	Downgrades	Buy Hold	X
EOG EOG Resources TD Securities
$140
7/5/18	Initiated	Buy	X
EOG EOG Resources TD Securities
4/6/21	Initiated	Buy	X
EPD Enterprise Products TD Securities
$28
12/15/22	Downgrades	Buy Hold	X
EQIX Equinix TD Securities
$750
7/5/18	Initiated	Hold	X
EQT EQT Corp. TD Securities
10/19/22	Downgrades	Buy Hold	X
ERO Ero Copper TD Securities
11/29/24	Resumed	Buy	X
EXK Endeavour Silver TD Securities
3/11/25	Downgrades	Buy Hold	X
FNV Franco-Nevada TD Securities
10/31/23	Downgrades	Buy Hold	X
FNV Franco-Nevada TD Securities
$180 $145
4/27/23	Upgrades	Hold Buy	X
FSV FirstService TD Securities
$150 $170
1/29/19	Downgrades	Buy Hold	X
FTS Fortis TD Securities
12/20/21	Upgrades	Hold Buy	X
GFL GFL Environmental TD Securities
5/2/24	Upgrades	Hold Buy	X
GIB CGI Group TD Securities
8/4/23	Upgrades	Hold Buy	X
GIL Gildan Activewear TD Securities
$36 $38
1/23/23	Downgrades	Buy Hold	X
GIL Gildan Activewear TD Securities
8/2/19	Upgrades	Hold Buy	X
GIL Gildan Activewear TD Securities
2/15/19	Downgrades	Buy Hold	X
GOLD Barrick TD Securities
1/3/19	Upgrades	Hold Buy	X
GOOS Canada Goose TD Securities
8/16/22	Downgrades	Buy Hold	X
IMO Imperial Oil TD Securities
2/22/19	Downgrades	Buy Hold	X
KL Kirkland Lake Gold TD Securities
10/28/21	Initiated	Hold	X
LAC Lithium Americas TD Securities
3/1/21	Upgrades	Hold Buy	X
LBRDA Liberty Broadband TD Securities
$185
8/9/19	Upgrades	Hold Buy	X
LBRDA Liberty Broadband TD Securities
1/11/24	Downgrades	Buy Hold	X
LPX Louisiana-Pacific TD Securities
9/20/23	Upgrades	Hold Buy	X
LPX Louisiana-Pacific TD Securities
$78
7/18/23	Downgrades	Buy Hold	X
LPX Louisiana-Pacific TD Securities
$86
5/4/23	Upgrades	Hold Buy	X
LPX Louisiana-Pacific TD Securities
$63 $75
12/19/22	Downgrades	Buy Hold	X
LPX Louisiana-Pacific TD Securities
$72
4/12/22	Upgrades	Hold Buy	X
LPX Louisiana-Pacific TD Securities
$75
2/9/24	Downgrades	Buy Hold	X
LSPD Lightspeed TD Securities
11/13/23	Upgrades	Speculative Buy Buy	X
MAG MAG Silver TD Securities
11/30/21	Upgrades	Hold Buy	X
MAG MAG Silver TD Securities
4/5/21	Upgrades	Hold Buy	X
MAXR Maxar Technologies Ltd TD Securities
3/1/19	Downgrades	Speculative Buy Hold	X
MAXR Maxar Technologies Ltd TD Securities
1/29/21	Upgrades	Hold Buy	X
MEOH Methanex TD Securities
$50 $46
4/23/21	Downgrades	Buy Hold	X
MERC Mercer Intl TD Securities
4/12/18	Upgrades	Hold Buy	X
MFC Manulife Financial TD Securities
1/25/23	Downgrades	Buy Hold	X
MGA Magna TD Securities
$76 $69
1/10/19	Upgrades	Hold Buy	X
MGA Magna TD Securities
2/24/23	Upgrades	Hold Buy	X
NEM Newmont Goldcorp TD Securities
$55
4/22/19	Upgrades	Hold Buy	X
NEM Newmont Goldcorp TD Securities
5/21/24	Upgrades	Sell Hold	X
NGD New Gold TD Securities
12/6/22	Downgrades	Hold Reduce	X
NGD New Gold TD Securities
9/28/23	Downgrades	Buy Hold	X
NOA North American Construction Group TD Securities
7/27/23	Upgrades	Hold Buy	X
NOA North American Construction Group TD Securities
10/25/18	Upgrades	Hold Buy	X
NSC Norfolk Southern TD Securities
7/31/23	Upgrades	Hold Buy	X
NTR Nutrien TD Securities
$72 $83
2/8/23	Downgrades	Buy Hold	X
NTR Nutrien TD Securities
$91
11/7/18	Upgrades	Hold Buy	X
NTR Nutrien TD Securities
8/3/18	Resumed	Hold	X
NTR Nutrien TD Securities
5/3/19	Downgrades	Buy Hold	X
OR Osisko Gold Royalties TD Securities
4/29/21	Upgrades	Hold Buy	X
OVV Ovintiv TD Securities
1/15/25	Initiated	Buy	X
PBA Pembina Pipeline TD Securities
7/5/18	Initiated	Buy	X
PDCE PDC Energy TD Securities
7/5/18	Initiated	Buy	X
PE Parsley Energy TD Securities
2/15/19	Downgrades	Buy Hold	X
PXD Pioneer Natural Resources TD Securities
7/5/18	Initiated	Buy	X
PXD Pioneer Natural Resources TD Securities
1/6/22	Upgrades	Hold Buy	X
RBA Ritchie Bros. TD Securities
10/25/21	Initiated	Buy	X
RDS-A Royal Dutch Shell TD Securities
$56
6/23/22	Downgrades	Buy Hold	X
RFP Resolute Forest Products TD Securities
$16
3/26/21	Upgrades	Speculative Buy Buy	X
RFP Resolute Forest Products TD Securities
$9.50 $12
9/29/22	Upgrades	Hold Buy	X
RRC Range Resources TD Securities
$32 $33
1/5/22	Upgrades	Reduce Hold	X
RRC Range Resources TD Securities
$16.50 $22
7/5/18	Initiated	Hold	X
RRC Range Resources TD Securities
11/15/24	Downgrades	Buy Hold	X
RY Royal Bank of Canada TD Securities
12/10/18	Upgrades	Hold Buy	X
RY Royal Bank of Canada TD Securities
2/14/24	Downgrades	Buy Hold	X
SSRM SSR Mining TD Securities
8/7/24	Upgrades	Hold Buy	X
SU Suncor Energy TD Securities
9/28/23	Downgrades	Buy Hold	X
SU Suncor Energy TD Securities
3/26/19	Upgrades	Hold Buy	X
TAC TransAlta TD Securities
5/25/18	Initiated	Hold	X
TAC TransAlta TD Securities
5/12/22	Upgrades	Hold Buy	X
TCN Tricon Residential TD Securities
$18 $17
2/9/22	Upgrades	Hold Buy	X
TFII TFI International TD Securities
7/22/19	Downgrades	Speculative Buy Hold	X
TGB Taseko Mines TD Securities
12/23/21	Upgrades	Hold Speculative Buy	X
TMQ Trilogy Metals TD Securities
10/6/21	Upgrades	Hold Buy	X
TRI Thomson Reuters TD Securities
1/15/25	Initiated	Buy	X
TRP TC Energy TD Securities
1/25/22	Upgrades	Hold Speculative Buy	X
TRQ Turquoise Hill Resources TD Securities
10/15/21	Downgrades	Speculative Buy Hold	X
TRQ Turquiose Hill Resources TD Securities
7/21/21	Upgrades	Hold Buy	X
TSE Trinseo TD Securities
$72
6/17/22	Upgrades	Hold Buy	X
TU Telus TD Securities
9/13/23	Initiated	Speculative Buy	X
UEC Uranium Energy TD Securities
$6
10/21/22	Reiterated	Hold	X
UNP Union Pacific TD Securities
$225 $215
10/26/18	Downgrades	Buy Hold	X
UNP Union Pacific TD Securities
3/27/24	Upgrades	Hold Buy	X
VET Vermilion Energy TD Securities
3/29/23	Downgrades	Buy Hold	X
VET Vermilion Energy TD Securities
4/18/19	Downgrades	Buy Hold	X
VET Vermilion Energy TD Securities
6/22/18	Downgrades	Buy Hold	X
VRX Valeant Pharma TD Securities
6/23/22	Reiterated	Buy	X
WFG West Fraser TD Securities
$120 $105
3/18/24	Upgrades	Hold Buy	X
WPM Wheaton Precious Metals TD Securities
2/21/24	Downgrades	Buy Hold	X
WPM Wheaton Precious Metals TD Securities
7/5/18	Initiated	Buy	X
WPX WPX Energy TD Securities