Equinox Gold (CVE:EQX) Stock Rating Upgraded by Royal Bank Of Canada

Equinox Gold (CVE:EQX) was upgraded by investment analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has a C$17.00 price target on the stock, up from their previous price target of C$11.00. Royal Bank Of Canada’s price target would suggest a potential upside of 115.74% from the company’s previous close.

A number of other equities research analysts have also recently commented on EQX. Scotiabank cut their target price 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. National Bankshares increased their target price on Equinox Gold from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. TD Securities increased their target price on Equinox Gold from C$13.00 to C$15.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, BMO Capital Markets set a C$11.00 target price on Equinox Gold and gave the stock an “outperform” rating in a research note on Wednesday, June 18th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$12.00.

Equinox Gold Price Performance

Shares of EQX stock opened at C$7.88 on Wednesday. The stock has a market cap of C$892.46 million and a price-to-earnings ratio of -43.54. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 64.28. Equinox Gold has a twelve month low of C$4.25 and a twelve 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.

Insider Activity at Equinox Gold

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

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.