The Globe and Mail reports in its Friday, April 19, edition that National Bank Financial analyst Don DeMarco has reaffirmed his "outperform" recommendation for Aya Gold & Silver. The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco raised his share target to $18.25 from $16.50. Analysts on average target the shares at $15.89. Mr. DeMarco says in a note: "Only pure-play silver producer on the TSX, with sight lines for NAV expansion vis-a-vis Zgounder brownfield expansion to 2,700 tons per day (from current 700 tpd), with first pour in H1/24, on budget with $68-million remaining (as at Q4/23) and fully funded with an $68-million surplus (as at Q4/23). Drives peer-leading production CAGR, peaking at nine million ounces in 2028 per the Zgounder feasibility study (FS; Dec. 2021), over four times the FY23A of two million oz Ag. Resource accretion compelling with visibility for 150 million oz (NBF est., from the current 103 million). Strong operations with a FY23 guidance beat, while mining rates and throughput buoyant, lending derisking and confidence ahead of expansion completion." The Globe reported on April 2 that Stifel had reaffirmed its "buy" call for Aya Gold, which was then worth $10.97.