Equinox Gold (CVE:EQX) Upgraded to Outperform at National Bankshares

Equinox Gold (CVE:EQX) was upgraded by equities research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has a C$10.25 target price on the stock, down from their previous target price of C$10.50. National Bankshares’ price target would indicate a potential upside of 30.08% from the stock’s previous close.

EQX has been the topic of several other reports. TD Securities cut their price target on Equinox Gold from C$8.50 to C$8.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Haywood Securities lowered their target price on shares of Equinox Gold from C$11.50 to C$10.50 in a research note on Monday, February 26th. Desjardins raised shares of Equinox Gold from a “hold” rating to a “buy” rating and increased their target price for the stock from C$7.25 to C$7.75 in a research note on Tuesday, January 30th. BMO Capital Markets increased their target price on shares of Equinox Gold from C$8.00 to C$10.00 in a research note on Monday. Finally, Canaccord Genuity Group increased their target price on shares of Equinox Gold from C$11.75 to C$12.00 and gave the stock a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$9.03.

Equinox Gold Stock Performance

EQX traded down C$0.07 during midday trading on Monday, hitting C$7.88. 53,583 shares of the company were exchanged, compared to its average volume of 153,529. The company’s 50 day simple moving average is C$7.88 and its 200 day simple moving average is C$7.88. The firm has a market capitalization of C$892.46 million and a price-to-earnings ratio of -43.54. The company has a current ratio of 1.94, a quick ratio of 1.11 and a debt-to-equity ratio of 64.28. Equinox Gold has a 1-year low of C$4.25 and a 1-year high of C$8.90.

About Equinox Gold

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company's principal properties include the Aurizona project covering a total land package of approximately 223,160 hectares located in Maranhão State, Brazil; and the Castle Mountain property situated in California, the United States.