11:37 AM EDT, 07/22/2025 (MT Newswires) -- (Adds analyst comments and updates shares)

Equinox Gold ( EQX ) on Tuesday said Chief Executive Officer Greg Smith stepped down and is being replaced in the role by Chief Operating Officer Darren Hall effective immediately.

Executive vice president David Schummer will take over as the company's COO.

Hall, who has 40 years of mining experience, previously served as Calibre Mining's chief executive from 2021 through the company's sale to Equinox, which closed last month. He has also held the role of COO at both Kirkland Lake Gold and Newmarket Gold, and earlier spent nearly three decades with Newmont Corporation ( NEM ) in a series of "progressively" senior roles.

Schummer has over 35 years of mining industry experience working in the United States., Canada, Peru, Indonesia, West Africa and the Middle East. Before joining Calibre as COO, he was the COO for Perseus Mining ( PMNXF ) , and prior to that he was the president of Ma'aden Gold and Base Metals (MGBM) and was the chairman of the board for both MGBM and Ma'aden Barrick Copper Company.

Schummer has also held the role of executive vice president and COO at New Gold ( NGD ) and also spent 22 years at Newmont Corporation ( NEM ) .

National Bank of Canada on Tuesday maintained its outperform rating and $11.00 price target on the shares of Equinox.

The bank said that it views the announcement as aligned with the strategic priorities of the integrated company as the company pivots from growth through acquisition to operational execution, "a domain where both Darren and David bring extensive experience and proven track records."

"Looking ahead, the focus will shift to execution and delivering on production targets, managing costs, and demonstrating the benefits of scale," said the bank. "If Equinox can maintain operational consistency while capturing the full value of its expanded asset base, we believe the market will increasingly recognize the strategic merit of the combined company."

Equinox Gold ( EQX ) was last seen up $0.02 to $8.87 on the Toronto Stock Exchange.

Price: 8.87, Change: +0.03, Percent Change: +0.34