Shares of Osisko Gold Royalties Ltd. (OR) fell sharply on Friday, plummeting 5.09% to close at $20.12. The sell-off came after TD Cowen downgraded the stock from a "Buy" rating to a "Hold" rating.
In a research note, TD Cowen analysts cited concerns over Osisko's growth prospects and valuation, leading them to lower their rating on the gold royalty company. The downgrade suggests the analysts have a more cautious outlook on the stock's performance moving forward.
Analyst downgrades often have a significant impact on stock prices, as they reflect changing sentiment and expectations from influential market participants. A move from "Buy" to "Hold" implies the analysts no longer view the stock as a compelling buy at current levels, potentially prompting some investors to reevaluate their positions.
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