Equinox Gold (TSE:EQX) Cut to Neutral at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce cut shares of Equinox Gold (TSE:EQX) from an outperform rating to a neutral rating in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have C$26.50 price target on the stock, down from their prior price target of C$31.00.

A number of other research analysts have also recently commented on EQX. Cormark reduced their price target on shares of Equinox Gold from C$22.50 to C$21.00 in a research report on Tuesday, December 16th. Stifel Nicolaus upped their price objective on shares of Equinox Gold from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Monday, January 26th. National Bankshares decreased their target price on shares of Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 7th. TD Securities boosted their price target on shares of Equinox Gold from C$21.00 to C$26.00 in a research note on Thursday, January 22nd. Finally, Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$24.21.

Equinox Gold Trading Up 5.9%

TSE EQX opened at C$19.95 on Thursday. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The stock’s 50-day simple moving average is C$20.10 and its two-hundred day simple moving average is C$16.13. Equinox Gold has a twelve month low of C$7.71 and a twelve month high of C$23.49. The company has a market capitalization of C$15.66 billion, a price-to-earnings ratio of 199.50 and a beta of 2.32.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. The firm had revenue of C$1.14 billion for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. Research analysts forecast that Equinox Gold will post 1.3865979 EPS 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.