Equinox Gold (TSE:EQX) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Equinox Gold (TSE:EQX) from a hold rating to a strong-buy rating in a research note released on Thursday,Zacks.com reports.

EQX has been the subject of several other reports. Royal Bank Of Canada upgraded Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, September 10th. TD Securities raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 16th. Finally, Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Equinox Gold Price Performance

Shares of TSE EQX opened at C$16.29 on Thursday. The stock has a market cap of C$12.74 billion, a PE ratio of -125.31 and a beta of 2.18. Equinox Gold has a fifty-two week low of C$6.93 and a fifty-two week high of C$17.03. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. The stock has a fifty day moving average of C$12.91 and a 200-day moving average of C$10.27.

Insider Buying and Selling

In other news, Director Blayne Barry Johnson sold 105,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total value of C$1,565,550.00. Following the completion of the transaction, the director owned 1,706,616 shares of the company’s stock, valued at approximately C$25,445,644.56. This represents a 5.80% decrease in their position. Also, insider David Chester Schummer purchased 9,100 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was bought at an average price of C$15.20 per share, for a total transaction of C$138,320.00. Following the purchase, the insider directly owned 168,222 shares in the company, valued at C$2,556,974.40. The trade was a 5.72% increase in their ownership of the stock. 6.40% of the stock is owned by corporate insiders.

Equinox Gold Company Profile

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.