BMO Capital Markets Forecasts Strong Price Appreciation for Equinox Gold (TSE:EQX) Stock

Equinox Gold (TSE:EQX) had its price target raised by analysts at BMO Capital Markets from C$18.00 to C$20.00 in a research note issued to investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 21.95% from the stock’s current price.

A number of other analysts have also commented on the company. National Bankshares boosted their target price on Equinox Gold from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Royal Bank Of Canada upgraded Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. Finally, TD Securities raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, Equinox Gold currently has an average rating of “Strong Buy” and a consensus target price of C$21.50.

Equinox Gold Trading Up 1.9%

EQX opened at C$16.40 on Thursday. Equinox Gold has a 1-year low of C$7.12 and a 1-year high of C$18.15. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65. The company has a market cap of C$12.85 billion, a P/E ratio of -126.15 and a beta of 2.41. The company has a fifty day moving average price of C$15.16 and a two-hundred day moving average price of C$11.19.

Insider Buying and Selling

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

Equinox Gold Company Profile

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.