Equinox Gold (TSE:EQX) Raised to “Strong-Buy” at Stifel Canada

Equinox Gold (TSE:EQX) was upgraded by Stifel Canada to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on EQX. CIBC increased their price target on Equinox Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. TD Securities upped their price objective on Equinox Gold from C$20.00 to C$22.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. Finally, Royal Bank Of Canada upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$22.40.

Equinox Gold Price Performance

Equinox Gold stock traded down C$0.17 during trading hours on Monday, hitting C$19.34. 521,640 shares of the company traded hands, compared to its average volume of 2,087,750. Equinox Gold has a 1-year low of C$7.13 and a 1-year high of C$19.97. The firm has a market cap of C$15.18 billion, a P/E ratio of 193.40 and a beta of 2.41. The firm’s 50-day simple moving average is C$16.57 and its two-hundred day simple moving average is C$12.32. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65.

Equinox Gold (TSE:EQX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. The business had revenue of C$1.14 billion during the quarter. As a group, analysts forecast that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

Insider Buying and Selling at Equinox Gold

In related news, insider David Chester Schummer purchased 9,100 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of C$15.20 per share, with a total value of C$138,320.00. Following the purchase, the insider owned 168,222 shares of the company’s stock, valued at C$2,556,974.40. This trade represents a 5.72% increase in their position. Also, Director Blayne Barry Johnson sold 105,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total value of C$1,565,550.00. Following the sale, the director owned 1,706,616 shares in the company, valued at approximately C$25,445,644.56. The trade was a 5.80% decrease in their position. Company insiders own 6.40% of the company’s stock.

About Equinox Gold

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.