-- Stifel Canada on Thursday reiterated its buy rating on the shares of Equinox Gold (EQX.TO) and its C$31.00 price target following the company's first-quarter results.
"Equinox Gold reported Q1/26 adjusted EPS from all-operations of $0.30 vs. our $0.34 (consensus $0.29) and adjusted EBITDA from all-operations of $527Mln vs. our $557Mln (consensus $521Mln) on gold production of 198Koz (pre-released). Q1/26 cash costs and AISC came in higher at $1,633/oz (vs. our $1,539/oz) and $1,950/oz (vs. our $1,933/oz), respectively, on severe winter conditions at Greenstone and Valentine, contractor support during Valentine ramp-up, and Mesquite Brownie 4 capital stripping. Equinox Gold reiterated FY26 guidance on consolidated production at 700-800Koz at cash costs of $1,425-$1,525/oz and AISC of $1,775-$1,875/oz. We remain encouraged by management's operating focus and 2026 priorities being the ramp-up at Greenstone and Valentine to full capacity, advancing engineering studies for the Valentine Phase 2 expansion to double throughput to 5.0Mtpa, as well as advance engineering and permitting for the Castle Mountain Phase 2 expansion," analyst Ralph Profiti wrote.
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Price: $20.47, Change: $+0.89, Percent Change: +4.55%