Equinox Gold (TSE:EQX) Lowered to Neutral Rating by CIBC

Equinox Gold (TSE:EQX) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a report issued on Thursday,BayStreet.CA reports. They currently have a C$26.50 price objective on the stock, down from their previous price objective of C$31.00. CIBC’s price target suggests a potential upside of 40.73% from the company’s previous close.

EQX has been the topic of several other research reports. Stifel Nicolaus boosted their price target on Equinox Gold from C$24.00 to C$25.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada boosted their target price on shares of Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. TD Securities upped their target price on shares of Equinox Gold from C$21.00 to C$26.00 in a report on Thursday, January 22nd. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Finally, BMO Capital Markets boosted their price target on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus price target of C$24.21.

Equinox Gold Price Performance

TSE EQX traded down C$2.07 on Thursday, reaching C$18.83. The company’s stock had a trading volume of 3,599,502 shares, compared to its average volume of 2,925,247. Equinox Gold has a 52 week low of C$7.71 and a 52 week high of C$23.49. 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 firm has a market cap of C$14.78 billion, a PE ratio of 188.30 and a beta of 2.32. The business has a 50-day moving average price of C$20.10 and a 200 day moving average price of C$15.98.

Equinox Gold (TSE:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. The firm had revenue of C$1.14 billion during the quarter. Sell-side analysts expect that Equinox Gold will post 1.3865979 EPS for the current 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.