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Toronto-based Sherritt International Corp. operations are seen in this file photo.
Toronto-based Sherritt International Corp. operations are seen in this file photo.
(Rogelio V. Solis/AP Photo)

Tuesday's analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

The recent rally in nickel prices appears to be sustainable, improving the outlook for a number of Canadian mining companies, according to CIBC World Markets analyst Tom Meyer.

Nickel rose sharply after Indonesia, the world’s largest nickel miner, prohibited exports of raw ore in an effort to support a domestic smelting industry. Delays at some other major, higher-cost nickel projects around the world have cut into future supply forecasts, Mr. Meyer said.