CIBC Raises Equinox Gold (CVE:EQX) Price Target to C$9.25

Equinox Gold (CVE:EQX) had its price target raised by CIBC from C$6.80 to C$9.25 in a research report sent to investors on Monday, BayStreet.CA reports.

Several other brokerages have also weighed in on EQX. Scotiabank decreased their price objective on Equinox Gold from C$7.75 to C$7.00 in a report on Friday, February 23rd. BMO Capital Markets cut their target price on Equinox Gold from C$8.00 to C$7.50 in a research note on Friday, February 23rd. Desjardins upgraded Equinox Gold from a hold rating to a buy rating and raised their target price for the stock from C$7.25 to C$7.75 in a research note on Tuesday, January 30th. Haywood Securities cut their target price on Equinox Gold from C$11.50 to C$10.50 in a research note on Monday, February 26th. Finally, TD Securities cut their target price on Equinox Gold from C$8.50 to C$8.00 and set a buy rating for the company in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equinox Gold currently has a consensus rating of Moderate Buy and an average target price of C$8.25.

Equinox Gold Price Performance

Shares of EQX opened at C$7.88 on Monday. Equinox Gold has a 12-month low of C$4.25 and a 12-month high of C$8.90. The business’s fifty day moving average is C$7.88 and its 200 day moving average is C$7.88. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 64.28. The stock has a market cap of C$892.46 million and a P/E ratio of -43.54.

Insider Activity

In related news, Senior Officer Kelly Grant Boychuk sold 9,923 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of C$5.88, for a total transaction of C$58,347.24. In the last 90 days, insiders sold 14,426 shares of company stock worth $84,825.

Equinox Gold Company Profile

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company's principal properties include the Aurizona project covering a total land package of approximately 223,160 hectares located in Maranhão State, Brazil; and the Castle Mountain property situated in California, the United States.