TD Securities Upgrades Equinox Gold (CVE:EQX) to “Buy”

Equinox Gold (CVE:EQX) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a C$12.00 price target on the stock, up from their previous price target of C$11.00. TD Securities’ price objective would indicate a potential upside of 52.28% from the stock’s current price.

EQX has been the subject of several other reports. BMO Capital Markets set a C$11.00 price objective on shares of Equinox Gold and gave the company an “outperform” rating in a research report on Wednesday, June 18th. Scotiabank reduced their price objective on Equinox Gold from C$9.00 to C$8.50 and set a “sector perform” rating on the stock in a research note on Wednesday, June 18th. CIBC boosted their target price on Equinox Gold from C$9.50 to C$10.00 and gave the stock a “neutral” rating in a research note on Monday, April 7th. Royal Bank Of Canada increased their target price on shares of Equinox Gold from C$11.00 to C$12.00 in a report on Wednesday, June 4th. Finally, National Bankshares lifted their price target on shares of Equinox Gold from C$13.00 to C$14.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$11.36.

Equinox Gold Stock Down 0.9%

EQX opened at C$7.88 on Wednesday. The company has a debt-to-equity ratio of 64.28, a quick ratio of 1.11 and a current ratio of 1.94. The stock has a fifty day moving average of C$7.88 and a 200-day moving average of C$7.88. Equinox Gold has a fifty-two week low of C$4.25 and a fifty-two week high of C$8.90. The company has a market capitalization of C$892.46 million and a P/E ratio of -43.54.

Insider Activity at Equinox Gold

In other Equinox Gold news, Senior Officer David Chester Schummer purchased 16,000 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was bought at an average cost of C$8.56 per share, with a total value of C$137,000.00. Also, Director Maryse Belanger sold 17,148 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of C$8.34, for a total value of C$143,014.32. In the last three months, insiders purchased 27,250 shares of company stock valued at $234,246.

About Equinox Gold

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.