Equinox Gold (TSE:EQX) Raised to Outperform at CIBC

Equinox Gold (TSE:EQX) was upgraded by investment analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a C$31.00 price objective on the stock, up from their previous price objective of C$21.50. CIBC’s price target points to a potential upside of 64.63% from the stock’s previous close.

EQX has been the topic of a number of other research reports. BMO Capital Markets raised their price target on shares of Equinox Gold from C$18.00 to C$20.00 in a report on Thursday, November 6th. Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Royal Bank Of Canada raised their target price on Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. National Bankshares lowered their price target on Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research report on Wednesday, January 7th. Finally, Cormark dropped their price objective on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and an average target price of C$24.21.

Equinox Gold Price Performance

EQX opened at C$18.83 on Wednesday. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31. The stock’s 50 day simple moving average is C$20.10 and its 200 day simple moving average is C$16.00. The firm has a market cap of C$14.78 billion, a price-to-earnings ratio of 188.30 and a beta of 2.32. Equinox Gold has a 1 year low of C$7.71 and a 1 year high of C$23.49.

Equinox Gold (TSE:EQX) last issued its earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share (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 for the quarter. As a group, analysts predict that Equinox Gold will post 1.3865979 earnings per share for the current year.

About Equinox Gold

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.