Stifel initiates coverage on Equinox Gold with 'buy' rating

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