Equinox Gold (TSE:EQX) Upgraded by Canadian Imperial Bank of Commerce to “Outperform” Rating

Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold (TSE:EQX) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has C$32.00 target price on the stock, up from their prior target price of C$26.50.

EQX has been the subject of several other reports. Stifel Nicolaus raised their price target on shares of Equinox Gold from C$25.00 to C$31.00 in a research note on Tuesday, February 10th. TD Securities lifted their price target on shares of Equinox Gold from C$21.00 to C$26.00 in a research note on Thursday, January 22nd. National Bank Financial boosted their price target on shares of Equinox Gold from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Finally, BMO Capital Markets upped their target price on Equinox Gold from C$18.00 to C$20.00 in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus target price of C$25.86.

Equinox Gold Stock Performance

EQX opened at C$25.42 on Tuesday. The company has a market capitalization of C$19.95 billion, a price-to-earnings ratio of 254.20 and a beta of 2.32. The business’s 50-day moving average price is C$20.76 and its two-hundred day moving average price is C$17.33. Equinox Gold has a 1 year low of C$7.71 and a 1 year high of C$25.87. 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 posted its quarterly earnings data on Wednesday, February 18th. The company reported C$0.48 earnings per share (EPS) for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. Equities analysts expect that Equinox Gold will post 1.3865979 EPS for the current fiscal year.

Equinox Gold Company Profile

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.