The Globe and Mail reports in its Wednesday, July 15, edition that precious metals equity analysts at National Bank Financial, while acknowledging recent volatility and downward price movements, continue to see "a favourable market backdrop for precious metal prices through the year and into 2027 as support from key drivers remains intact, including rising levels of sovereign debt, [a] softer [greenback] and strong physical demand from central banks/stablecoins." The Globe's David Leeder writes in the Eye On Equities column that the National analysts say in a note: "Higher oil prices in Q2 are expected to weigh modestly on sector margins through increased diesel, freight and consumables costs, particularly for fuel-intensive open pit or genset-powered mines. Oil markets appear to be loosening into H2/26, suggesting cost pressures should moderate and provide some relief to operating margins later this year; nevertheless, sustained higher costs stemming from prolonged unrest in the Middle East could lead to upward cost guidance revisions." The National analysts rate B2Gold "outperform." They cut their share target by 95 cents to $9.75. Analysts on average target the shares at $8.26.