Stifel initiates coverage on Equinox Gold with 'buy' rating
02/12/2025 13:39
** Brokerage Stifel initiates coverage with "buy" rating for Canadian gold miner Equinox Gold EQX.TO and sets price target at C$24
** The new PT represents upside of 22.6% to the stock's last close
** Brokerage says the company is set for a valuation boost as operational improvements and its expanded Canadian portfolio drive production and cash flow growth
** Brokerage says two new Canadian mines position EQX for longer cash flow and strengthen its path to becoming a top-three Canadian gold producer
** "We expect operational improvements to drive improving margins in Canada coupled by growing production as both Greenstone and Valentine ramp-up production," - Stifel
** Brokerage TD Cowen also raises PT to C$22 from C$20; implying an upside of 12.4% to the stock's last close
** All 10 brokerages covering the stock rate it "buy", with median PT is C$22.25 - data complied by LSEG
** Up to last close, shares up 171.1% YTD
(Reporting by Varun Sahay in Bengaluru)
((Varun.sahay@thomsonreuters.com))