TD Securities Forecasts Strong Price Appreciation for Equinox Gold (CVE:EQX) Stock

Equinox Gold (CVE:EQX) had its target price increased by investment analysts at TD Securities from C$13.00 to C$15.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 90.36% from the company’s current price.

EQX has been the topic of a number of other research reports. Scotiabank dropped their price objective on shares of 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. BMO Capital Markets set a C$11.00 price target on shares of Equinox Gold and gave the company an “outperform” rating in a research note on Wednesday, June 18th. Royal Bank Of Canada lifted their price target on shares of Equinox Gold from C$11.00 to C$12.00 in a research note on Wednesday, June 4th. Finally, National Bankshares lifted their price target on shares of Equinox Gold from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Equinox Gold has a consensus rating of “Moderate Buy” and an average price target of C$11.29.

Equinox Gold Price Performance

Shares of CVE EQX opened at C$7.88 on Friday. The stock has a market capitalization of C$892.46 million and a price-to-earnings ratio of -43.54. Equinox Gold has a 12 month low of C$4.25 and a 12 month high of C$8.90. The firm’s 50 day simple moving average is C$7.88 and its 200-day simple moving average is C$7.88. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.94 and a quick ratio of 1.11.

Insiders Place Their Bets

In other news, Senior Officer David Chester Schummer acquired 16,000 shares of the firm’s stock in a transaction on Friday, July 11th. The shares were bought at an average price of C$8.56 per share, for a total transaction of C$137,000.00. Also, Director Michael Vint acquired 9,950 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was purchased at an average price of C$8.63 per share, for a total transaction of C$85,818.75. Insiders acquired a total of 27,250 shares of company stock worth $234,246 in the last 90 days.

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.