TD Securities Forecasts Strong Price Appreciation for Equinox Gold (TSE:EQX) Stock

Equinox Gold (TSE:EQX) had its price target boosted by research analysts at TD Securities from C$20.00 to C$22.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 14.40% from the stock’s current price.

Several other analysts also recently issued reports on EQX. 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. CIBC lifted their price target on Equinox Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. BMO Capital Markets boosted their price objective on shares of Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus set a C$24.00 price target on shares of Equinox Gold and gave the stock a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, Equinox Gold currently has an average rating of “Buy” and an average target price of C$22.40.

Equinox Gold Trading Down 1.4%

Shares of EQX stock opened at C$19.23 on Tuesday. The stock has a fifty day simple moving average of C$16.66 and a two-hundred day simple moving average of C$12.37. The firm has a market capitalization of C$15.09 billion, a PE ratio of 192.30 and a beta of 2.41. Equinox Gold has a 52-week low of C$7.13 and a 52-week high of C$19.97. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85.

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

Insider Buying and Selling

In other news, insider David Chester Schummer bought 9,100 shares of the business’s stock in a transaction 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 C$2,556,974.40. This trade 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 that occurred on Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total transaction of C$1,565,550.00. Following the sale, the director directly owned 1,706,616 shares in the company, valued at approximately C$25,445,644.56. The trade was a 5.80% decrease in their ownership of the stock. 6.40% of the stock is currently owned by 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.