Cibc Captl Mkts Downgrades Equinox Gold (TSE:EQX) to Hold

Equinox Gold (TSE:EQX) was downgraded by research analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also commented on the stock. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Stifel Nicolaus upped their target price on Equinox Gold from C$24.00 to C$25.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Cormark dropped their price target on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. Royal Bank Of Canada boosted their price target on Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. Finally, Canadian Imperial Bank of Commerce cut Equinox Gold from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$31.00 to C$26.50 in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.21.

Equinox Gold Stock Up 5.9%

Shares of Equinox Gold stock opened at C$19.95 on Thursday. The firm has a market cap of C$15.66 billion, a PE ratio of 199.50 and a beta of 2.32. The business’s 50 day simple moving average is C$20.10 and its 200 day simple moving average is C$16.08. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. Equinox Gold has a 52-week low of C$7.71 and a 52-week high of C$23.49.

Equinox Gold (TSE:EQX) last released its earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share for the quarter. The business had revenue of C$1.14 billion during the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. On average, analysts predict 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.