Equinox Gold (TSE:EQX) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold (TSE:EQX) from a hold rating to an outperform rating in a research note published on Tuesday morning, MarketBeat reports. The firm currently has C$32.00 target price on the stock, up from their previous target price of C$26.50.

Several other equities analysts also recently weighed in on the company. Stifel Nicolaus lifted their target price on Equinox Gold from C$25.00 to C$31.00 in a research report on Tuesday, February 10th. BMO Capital Markets raised their price objective on Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. National Bank Financial boosted their price objective on Equinox Gold from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Royal Bank Of Canada raised their target price on shares of Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. Finally, TD Securities lifted their price target on shares of Equinox Gold from C$21.00 to C$26.00 in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Equinox Gold currently has an average rating of “Buy” and a consensus price target of C$25.86.

Equinox Gold Stock Performance

Shares of TSE EQX opened at C$25.17 on Tuesday. Equinox Gold has a 12-month low of C$7.71 and a 12-month high of C$25.87. The firm has a market capitalization of C$19.75 billion, a price-to-earnings ratio of 251.70 and a beta of 2.32. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65. The firm has a 50 day moving average of C$21.00 and a 200 day moving average of C$17.44.

Equinox Gold (TSE:EQX) last released its quarterly earnings results on Wednesday, February 18th. The company reported C$0.48 earnings per share for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. On average, research analysts anticipate that Equinox Gold will post 1.3865979 earnings per share for the current year.

About Equinox Gold

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.