The Globe and Mail reports in its Tuesday, April 30, edition that National Bank Financial analyst Mike Parkin has upgraded Equinox Gold to "outperform" from "sector perform" after coming off restrictions that followed the close of a $299-million (U.S.) bought deal offering, citing an "improved geopolitical risk, increased EBITDA outlook and improved capital structure expected in the following quarters." His target declined to $10.25 (Canadian) from $10.50 (Canadian). Analysts on average target the shares at $9.88 (Canadian). Mr. Parkin says in a note: "Overall, we like the deal as it adds more of the best asset in the portfolio on a (1) geopolitical risk, (2) cash margin, and (3) LOM [life-of-mine] basis; at a fair-to-good price. We updated our model to include the 98.4 million shares issued (bought deal gross proceeds approximately $299-million (U.S.)). Additionally, we included the three-year $500-million (U.S.) term loan which includes interest, covenants and other terms that are consistent with the company's existing RCF. With the 100-per-cent ownership of Greenstone, we see a strong improvement in our company-wide AISC [all-in sustaining costs], EBITDA and FCF estimates beginning in 2H24."