Equinox Gold (TSE:EQX) Upgraded 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 currently has a C$31.00 price objective on the stock, up from their prior price objective of C$21.50. CIBC’s price target suggests a potential upside of 51.15% from the stock’s previous close.

A number of other research firms also recently issued reports on EQX. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Cormark dropped their price target on shares of Equinox Gold from C$22.50 to C$21.00 in a research note on Tuesday, December 16th. BMO Capital Markets raised their target price on Equinox Gold from C$18.00 to C$20.00 in a report on Thursday, November 6th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada raised their price objective on Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$24.86.

Equinox Gold Stock Performance

Shares of EQX traded down C$0.08 during mid-day trading on Wednesday, hitting C$20.51. 2,011,851 shares of the company traded hands, compared to its average volume of 2,880,379. The stock has a market cap of C$16.10 billion, a price-to-earnings ratio of 205.10 and a beta of 2.32. The stock has a 50-day moving average price of C$20.06 and a two-hundred day moving average price of C$15.95. Equinox Gold has a 1 year low of C$7.71 and a 1 year high of C$23.49. 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 issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The company had revenue of C$1.14 billion during the quarter. Equities analysts anticipate that Equinox Gold will post 1.3865979 earnings per share 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.