Equinox Gold Corp. (TSE:EQX) Receives C$23.00 Consensus Price Target from Brokerages

Equinox Gold Corp. (TSE:EQX) has received a consensus recommendation of “Strong Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$21.50.

A number of brokerages have recently commented on EQX. TD Securities upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 16th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. 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. Finally, Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th.

Equinox Gold Trading Up 1.4%

Shares of TSE EQX opened at C$17.34 on Wednesday. Equinox Gold has a 1-year low of C$7.12 and a 1-year high of C$18.15. 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 business’s 50 day moving average is C$15.36 and its two-hundred day moving average is C$11.32. The stock has a market capitalization of C$13.61 billion, a P/E ratio of 173.40 and a beta of 2.41.

Insider Activity at Equinox Gold

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of the business’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 completion of the transaction, the director owned 1,706,616 shares in the company, valued at C$25,445,644.56. The trade was a 5.80% decrease in their ownership of the stock. Also, insider David Chester Schummer purchased 9,100 shares of Equinox Gold stock in a transaction dated Thursday, September 11th. The stock was acquired at an average price of C$15.20 per share, for a total transaction of C$138,320.00. Following the completion of the acquisition, the insider owned 168,222 shares of the company’s stock, valued at approximately C$2,556,974.40. This trade represents a 5.72% increase in their position. 6.40% of the stock is owned by insiders.

Equinox Gold Company Profile

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.