11:52 AM EST, 12/12/2024 (MT Newswires) -- National Bnak Financial on Thursday reiterated its outperform, speculative risk, rating on the shares of O3 Mining ( OIIIF ) and its C$2.40 price target after Aginico Eagle Mines (AEM.TO) agreed to acquire the company for $1.67 per share, or $204 million.

"Before market open, OIII announces a friendly transaction offer from Agnico Eagle ... Long-time and expected transaction. OIII shareholders receive attractive offer: all cash, sizable premium, dispenses with final permitting and construction risk and quicker payback than potential toll milling agreement. Also shows continued appetite for Canadian assets" analyst Don DeMarco wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 1.64, Change: +0.58, Percent Change: +54.72