Equinox Gold (TSE:EQX) Upgraded to “Outperform” at CIBC

CIBC upgraded shares of Equinox Gold (TSE:EQX) from a neutral rating to an outperform rating in a research note released on Wednesday,BayStreet.CA reports. They currently have C$31.00 price target on the stock, up from their prior price target of C$21.50.

A number of other analysts have also commented on the company. Stifel Nicolaus lifted their price target on Equinox Gold from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Monday, January 26th. BMO Capital Markets lifted their target price on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. TD Securities upped their price target on shares of Equinox Gold from C$21.00 to C$26.00 in a research report on Thursday, January 22nd. National Bankshares cut their price target on shares of Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, January 7th. Finally, Cormark reduced their price objective on shares of Equinox Gold from C$22.50 to C$21.00 in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$24.86.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at C$20.90 on Wednesday. The company’s 50 day moving average price is C$20.10 and its two-hundred day moving average price is C$15.98. The firm has a market capitalization of C$16.40 billion, a P/E ratio of 209.00 and a beta of 2.32. Equinox Gold has a fifty-two week low of C$7.71 and a fifty-two week high of C$23.49. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Equinox Gold (TSE:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The company had revenue of C$1.14 billion during the quarter. On average, equities analysts forecast that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

About Equinox Gold

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices.

Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap‐leach and carbon‐in‐leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development‐stage and advanced exploration properties across North and South America.