Equinox Gold (TSE:EQX) Price Target Raised to C$22.00

Equinox Gold (TSE:EQX) had its price target increased by TD Securities from C$20.00 to C$22.00 in a report issued on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

EQX has been the subject of several other research reports. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. CIBC upped their price target on shares of Equinox Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. National Bankshares raised their price objective on shares of 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. BMO Capital Markets lifted their price objective on shares of Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$22.40.

Equinox Gold Price Performance

TSE EQX opened at C$19.49 on Tuesday. Equinox Gold has a 12 month low of C$7.13 and a 12 month high of C$19.97. The firm has a market capitalization of C$15.30 billion, a PE ratio of 194.90 and a beta of 2.41. The company’s 50 day simple moving average is C$16.76 and its 200 day simple moving average is C$12.42. 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 released its earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The firm had revenue of C$1.14 billion during the quarter. As a group, equities research analysts forecast that Equinox Gold will post 1.3865979 EPS for the current fiscal year.

Insider Activity

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 5.80% decrease in their ownership of the stock. Also, insider David Chester Schummer bought 9,100 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was purchased 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 owned 168,222 shares of the company’s stock, valued at C$2,556,974.40. This represents a 5.72% increase in their ownership of the stock. Company 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.