Equinox Gold (TSE:EQX) Price Target Cut to C$22.00 by Analysts at National Bank Financial

Equinox Gold (TSE:EQX) had its price objective cut by equities research analysts at National Bank Financial from C$23.00 to C$22.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial‘s target price suggests a potential upside of 42.58% from the stock’s current price.

EQX has been the subject of a number of other reports. Canadian Imperial Bank of Commerce cut their price objective on Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. TD set a C$20.00 target price on shares of Equinox Gold and gave the stock a “buy” rating in a report on Tuesday, October 20th. Finally, Scotiabank upgraded shares of Equinox Gold to a “strong-buy” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, Equinox Gold currently has a consensus rating of “Buy” and an average target price of C$24.57.

Equinox Gold Price Performance

Shares of EQX traded down C$0.54 during mid-day trading on Wednesday, reaching C$15.43. The company had a trading volume of 1,719,169 shares, compared to its average volume of 3,783,933. Equinox Gold has a twelve month low of C$11.91 and a twelve month high of C$25.87. The company has a debt-to-equity ratio of 5.14, a current ratio of 0.93 and a quick ratio of 1.31. The company’s 50-day moving average is C$16.02 and its 200-day moving average is C$17.52. The company has a market capitalization of C$18.01 billion, a P/E ratio of 14.29 and a beta of 3.51.

Equinox Gold (TSE:EQX) last posted its earnings results on Monday, November 9th. The company reported C$0.27 EPS for the quarter. Equinox Gold had a return on equity of 11.50% and a net margin of 23.98%. The business had revenue of C$1.49 billion during the quarter. On average, equities analysts anticipate that Equinox Gold will post 1.39 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.