TD upgrades Orla Mining, recommends accepting Equinox deal

As previously reported, TD Securities upgraded Orla Mining (ORLA) to Buy from Hold with a price target of C$24, down from C$26. The firm recommends Orla shareholders tender to the Equinox Gold (EQX) offer “given exposure to a larger scale, Canadian producer with accelerated growth.” TD expects a completed acquisition given shareholder support for the deal and its view of a limited likelihood of a superior competing bid.