Equinox Gold (TSE:EQX) Upgraded to Outperform at CIBC

Equinox Gold (TSE:EQX) was upgraded by stock analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$31.00 price objective on the stock, up from their prior price objective of C$21.50. CIBC’s price target would suggest a potential upside of 51.15% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Cormark dropped their target price on shares of Equinox Gold from C$22.50 to C$21.00 in a research note on Tuesday, December 16th. BMO Capital Markets lifted their price target on shares of Equinox Gold from C$18.00 to C$20.00 in a report on Thursday, November 6th. Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Royal Bank Of Canada lifted their target price on Equinox Gold from C$19.00 to C$25.00 in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold has a consensus rating of “Buy” and a consensus target price of C$24.86.

Equinox Gold Stock Down 0.4%

EQX traded down C$0.08 during trading on Wednesday, hitting C$20.51. 2,011,851 shares of the company’s stock were exchanged, compared to its average volume of 2,880,379. Equinox Gold has a fifty-two week low of C$7.71 and a fifty-two week high of C$23.49. The stock has a market cap of C$16.10 billion, a P/E ratio of 205.10 and a beta of 2.32. The business’s 50 day moving average is C$20.06 and its two-hundred day moving average is C$15.95. 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 released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The business had revenue of C$1.14 billion during the quarter. As a group, equities analysts expect that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices.

Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap‐leach and carbon‐in‐leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development‐stage and advanced exploration properties across North and South America.