The Globe and Mail reports in its Friday, Sept. 18, edition that TD Cowen analyst Wayne Lam is sticking with his "buy" on Equinox Gold. The Globe's David Leeder writes in the Eye On Equities column that Mr. Lam gave his share target a $2 boost to $20. Analysts on average target the shares at $22.19. Mr. Lam added Equinox Gold to the firm's "Canada Best Ideas" list, highlighting the ramp-up of Canadian assets and the growth of a North American-focused portfolio.
Mr. Lam says in a note: "We view current valuation as attractive at a 20-per-cent NAV discount vs peers and see potential for Equinox to serve as a core holding for investors. Our constructive thesis on Equinox reflects the recent combination with OLA providing the pro forma company with scale from three flagship Canadian assets, a robust growth pipeline and multiple catalysts ahead. We estimate production growing to 1.27 million ounces in 2027 (vs 907,000 ounces in FY/26) given (1) full year contribution from the OLA assets, (2) ramp up at Greenstone/Valentine and (3) restart of Los Filos. We view potential for Equinox to serve as a core holding for investors with 75 per cent of NAV based in Canada/U.S. given increasing focus on Tier I jurisdictions."
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