The Globe and Mail reports in its Friday, Feb. 20, edition that National Bank Financial analyst Mohamed Sidibe has reaffirmed his "outperform" recommendation for Equinox Gold. The Globe's David Leeder writes that Mr. Sidibe hiked his share target by a loonie to $26. Analysts on average target the shares at $26.50. Mr. Sidibe says in a note: "We are updating our model following Equinox Gold's preliminary Q4/25 financial results released on Feb. 19, and to reflect updated commentary around Greenstone and Valentine ramp-up, capital allocation priorities, and the strengthened balance sheet. We have revised our model to incorporate the financial results, inaugural dividend and NCIB. ... We expect Equinox to be conservative on its buybacks and only model an implementation of 50 per cent of the program announced. We have also fine-tuned our throughput and grade assumptions at Greenstone to reflect commentary provided on the call, as well as cost and strip ratio assumptions in Nicaragua to better align with the outlook. While our Valentine gold production profile remains unchanged, we are modelling a slightly more pronounced H1/H2 split to reflect the expected ramp up. We model production of 791 koz at AISC of $1,911/oz."