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Equinox Gold Delivers First Gold Pour at Valentine Mine, Keeps Outperform Rating at National Bank of Canada

BY MT Newswires | ECONOMIC | 09/15/25 11:33 AM EDT

11:33 AM EDT, 09/15/2025 (MT Newswires) -- National Bank of Canada noted Monday Equinox Gold's (EQX.TO) first gold pour at the Valentine mine in Newfoundland and Labrador.

The bank maintained Equinox's outperform rating and $12 price target following the news.

The company achieved the milestone in line with the bank's estimate of third quarter. The ramp-up to nameplate capacity of 2.5 million tonnes per year is targeted for the second quarter of 2026, compared to the bank's estimate of 80% of nameplate capacity before reaching 100% in the second quarter of 2027.

National Bank expects the stock to react positively to the update, noting that Valentine represents 19% of the company's $17.01 net asset value per share and 15% of its estimated 2026 production of 1.08 million ounces.

Equinox's share price gained 3.8% at last look to $15.27 on the TSX.

Price: 15.29, Change: +0.58, Percent Change: +3.94

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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