Equinox Gold (TSE:EQX) Given New C$27.00 Price Target at Canadian Imperial Bank of Commerce

Equinox Gold (TSE:EQX) had its target price trimmed by Canadian Imperial Bank of Commerce from C$31.00 to C$27.00 in a research note published on Thursday morning,BayStreet.CA reports.

Separately, TD lowered their price target on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$24.50.

Equinox Gold Price Performance

Shares of Equinox Gold stock opened at C$12.26 on Thursday. The firm has a market capitalization of C$9.68 billion, a PE ratio of 13.62 and a beta of 3.11. The company has a current ratio of 1.24, a quick ratio of 1.31 and a debt-to-equity ratio of 10.04. Equinox Gold has a 12 month low of C$8.27 and a 12 month high of C$25.87. The business’s 50-day moving average price is C$15.66 and its 200-day moving average price is C$18.90.

Equinox Gold (TSE:EQX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$0.39 EPS for the quarter. Equinox Gold had a net margin of 21.78% and a return on equity of 10.88%. The business had revenue of C$1.20 billion for the quarter. Sell-side analysts forecast that Equinox Gold will post 1.3865979 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, June 5th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s payout ratio is presently 1.67%.

Insider Buying and Selling

In other news, insider Daniella Elena Dimitrov purchased 7,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was acquired at an average price of C$14.40 per share, with a total value of C$100,800.00. Following the transaction, the insider directly owned 109,199 shares of the company’s stock, valued at approximately C$1,572,465.60. This represents a 6.85% increase in their position. Also, insider Ryan King purchased 3,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of C$16.96 per share, for a total transaction of C$50,880.00. Following the acquisition, the insider owned 324,062 shares in the company, valued at approximately C$5,496,091.52. The trade was a 0.93% increase in their ownership of the stock. Insiders have bought a total of 11,922 shares of company stock valued at $187,391 over the last three months. 6.40% of the stock is owned by company insiders.

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.