Canadian Imperial Bank of Commerce Lowers Equinox Gold (TSE:EQX) Price Target to C$27.00

Equinox Gold (TSE:EQX) had its price target reduced by Canadian Imperial Bank of Commerce from C$31.00 to C$27.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 123.14% from the stock’s current price.

Separately, TD reduced their price objective on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Equinox Gold has a consensus rating of “Buy” and an average target price of C$24.50.

Equinox Gold Price Performance

Shares of EQX opened at C$12.10 on Thursday. The business has a 50-day moving average of C$15.51 and a 200-day moving average of C$18.85. The company has a debt-to-equity ratio of 10.04, a current ratio of 1.24 and a quick ratio of 1.31. The company has a market capitalization of C$9.55 billion, a price-to-earnings ratio of 13.44 and a beta of 3.11. Equinox Gold has a 1 year low of C$8.30 and a 1 year high of C$25.87.

Equinox Gold (TSE:EQX) last announced its earnings results on Wednesday, May 6th. The company reported C$0.39 EPS for the quarter. The business had revenue of C$1.20 billion for the quarter. Equinox Gold had a return on equity of 10.88% and a net margin of 21.78%. As a group, equities research analysts anticipate that Equinox Gold will post 1.3865979 earnings per share for the current year.

Insider Buying and Selling at Equinox Gold

In other Equinox Gold news, insider Ryan King bought 3,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of C$16.96 per share, with a total value of C$50,880.00. Following the completion of the transaction, the insider directly owned 324,062 shares in the company, valued at approximately C$5,496,091.52. The trade was a 0.93% increase in their position. Also, Director Lenard Boggio bought 1,922 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of C$18.58 per share, for a total transaction of C$35,710.76. Following the acquisition, the director directly owned 76,069 shares in the company, valued at C$1,413,362.02. The trade was a 2.59% increase in their ownership of the stock. In the last 90 days, insiders acquired 11,922 shares of company stock worth $187,391. 6.40% of the stock is owned by corporate insiders.

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.