The Globe and Mail reports in its Friday edition that Stifel analyst Ingrid Rico is keeping her "buy" call on Aya Gold & Silver intact. The Globe's David Leeder writes in the Eye On Equities column that Ms. Rico gave her share target a $2.50 trim to $31.50. Analysts on average target the shares at $25. Ms. Rico says in a note: "This week, Aya filed an updated technical report for its Zgounder silver mine, which updates reserves and resource estimate along with a LOM-plan that captures the changes to the mine plan compared to the prior mine plan projections. To us, Zgounder's new mine plan is a derisking element to go-forward expectations. Importantly, we see an independently prepared, updated resource model with increasing understanding of the deposit informing the mine plan that substantiates a path toward annual 6Moz silver production. ... We emphasize that heading into 2026, Aya Gold's cash flow leverage in this silver-price environment plus growing Zgounder production make it an ideal candidate for multiple expansion and rerate in 2026. Derisking and exploration upside at Boumadine also add to Aya Gold's NAV growth potential with Aya shares currently reflecting modest value priced-in for this value-driver project."