Scotiabank Lowers Equinox Gold (CVE:EQX) Price Target to C$6.75

Equinox Gold (CVE:EQX) had its target price reduced by stock analysts at Scotiabank from C$7.00 to C$6.75 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential downside of 14.34% from the stock’s current price.

A number of other brokerages have also recently commented on EQX. Canaccord Genuity Group raised their price objective on Equinox Gold from C$11.50 to C$11.75 in a research note on Tuesday, April 23rd. BMO Capital Markets boosted their price target on shares of Equinox Gold from C$8.00 to C$10.00 in a research note on Monday. Desjardins raised shares of Equinox Gold from a “hold” rating to a “buy” rating and raised their price objective for the company from C$7.25 to C$7.75 in a research note on Tuesday, January 30th. National Bankshares decreased their price objective on Equinox Gold from C$11.50 to C$10.50 in a report on Friday, April 19th. Finally, CIBC raised their target price on Equinox Gold from C$6.80 to C$9.25 in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Equinox Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$9.03.

Equinox Gold Price Performance

EQX stock opened at C$7.88 on Monday. Equinox Gold has a 1 year low of C$4.25 and a 1 year high of C$8.90. The stock has a market capitalization of C$892.46 million and a PE ratio of -43.54. The company’s 50-day moving average is C$7.88 and its 200-day moving average is C$7.88. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.94 and a quick ratio of 1.11.

Equinox Gold Company Profile

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company's principal properties include the Aurizona project covering a total land package of approximately 223,160 hectares located in Maranhão State, Brazil; and the Castle Mountain property situated in California, the United States.