Stifel Bullish on Equinox Gold (EQX) As Valentine Progress Accelerates

Core Viewpoint - Equinox Gold Corp. (NYSEAMERICAN:EQX) is highlighted as a promising investment opportunity due to its low forward price-to-earnings multiple and strong interest from hedge funds, making it one of the 12 cheap gold stocks to consider buying now [1] Group 1: Company Performance and Developments - On December 12, 2025, Equinox Gold reached a new 52-week high of $15.10, reflecting a remarkable 196% gain for the year [2] - Stifel initiated coverage on Equinox Gold with a "Buy" rating and a C$24 price target, citing significant progress in Canada and expectations for production growth and rising cash flow [3] - The company achieved commercial production at its Valentine Gold Mine ahead of schedule, with plant availability and throughput exceeding expectations, averaging over 5,400 tons per day and gold recoveries of over 93% [4] Group 2: Operational Momentum - The operational momentum at Valentine was evident in Equinox Gold's Q3 2025 results, with commissioning progress and throughput climbing steadily, exceeding 90% of nameplate capacity in October [5] - Management anticipates that Valentine will deliver toward the higher end of its Q4 production range and reach nameplate capacity by Q2 2026, which will enhance the company's annual output [4]