The Globe and Mail reports in its Tuesday, Sept. 9, edition that TD Cowen analyst Wayne Lam, seeing "clearer waters ahead," upgraded Oceanagold to "buy" from "hold," believing it is "primed for growth in 2026." The Globe's David Leeder writes in the Eye On Equities column that Mr. Lam's share target soared $8 to $30. Analysts on average target the shares at $26.33. Mr. Lam says in a note: "In our view, Oceanagold has navigated well through a transition year centred around large capital stripping programs at Haile and Macraes, which had previously driven our cautious thesis at the start of the year. We view the performance to-date having exceeded expectations, given stronger grades at Haile, helped by a stronger gold price, which has solidified its robust balance-sheet position. While management has well-telegraphed Q3/25 as being the seasonal low point for the year, we view investor focus now turning to production growth in 2026, driven by higher grades via Ledbetter Phase 3 at Haile alongside the ramp-up of the underground at Didipio. We estimate production of 585 Koz in 2026 at AISC of $1,578/oz, representing 22-per-cent growth at 20-per-cent lower costs as stripping programs are completed."