Equinox Gold Shares Rise 12.7% After Large Newfoundland Gold Discovery

Equinox Gold Corp. recently reported promising exploration results at its Valentine Gold Mine in Newfoundland & Labrador, revealing broad near-surface gold mineralization in the Frank Zone that could support new open pit development and potentially enhance the mine's long-term production profile. The company maintains annual output expectations of 175,000 to 200,000 ounces for the first 12 years, with the new findings suggesting future production upside without immediately altering the current operational outlook. Investment analysts have shown increased confidence in Equinox Gold's stock, with TD Securities raising its target price to C$15.00 and maintaining a buy rating, indicating a potential upside of over 90%. Other financial institutions have mixed ratings but generally hold moderate buy or outperform stances, reflecting cautious optimism amid operational risks. Insider buying activity has also been noted, signaling confidence within the company's management. Meanwhile, unrelated to Equinox Gold, GSK plc holds a hold rating with a price target of $45.00, based mainly on its current product portfolio and market positioning, though some caution remains due to reliance on existing products amid competitive pressures.