Equinox Gold (TSE:EQX) Stock Rating Upgraded by Scotiabank

Equinox Gold (TSE:EQX) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a note issued to investors on Friday,BayStreet.CA reports.

A number of other equities research analysts have also recently weighed in on EQX. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. BMO Capital Markets boosted their price target on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. TD Securities upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of C$21.50.

Equinox Gold Stock Up 1.9%

Equinox Gold stock traded up C$0.30 on Friday, hitting C$16.40. 2,237,962 shares of the stock traded hands, compared to its average volume of 2,063,572. The business’s fifty day simple moving average is C$15.07 and its 200 day simple moving average is C$11.14. The firm has a market cap of C$12.82 billion, a P/E ratio of -126.15 and a beta of 2.41. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65. Equinox Gold has a 1 year low of C$7.12 and a 1 year high of C$18.15.

Insider Activity at Equinox Gold

In related news, Director Blayne Barry Johnson sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$14.91, for a total value of C$1,565,550.00. Following the completion of the transaction, the director directly owned 1,706,616 shares in the company, valued at C$25,445,644.56. The trade was a 5.80% decrease in their position. Also, insider David Chester Schummer acquired 9,100 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of C$15.20 per share, for a total transaction of C$138,320.00. Following the completion of the transaction, the insider directly owned 168,222 shares in the company, valued at C$2,556,974.40. This represents a 5.72% increase in their position. 6.40% of the stock is owned by company insiders.

About Equinox Gold

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.