Equinox Gold resumed with an Outperform at BMO Capital

BMO Capital analyst Kevin O’Halloran resumed coverage of Equinox Gold (EQX) with an Outperform rating and price target of C$11, down from C$11.50. Equinox has closed its acquisition of Calibre Mining, resulting in the formation of a major gold producer anchored by the Greenstone and Valentine mines in Canada, the analyst tells investors in a research note. BMO expects “substantial” free cash flow and an improving balance sheet, and says the shares remain discounted versus Equinox’s senior peers.