Equinox Gold (TSE:EQX) Upgraded to Strong-Buy at Stifel Canada

Equinox Gold (TSE:EQX) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. CIBC boosted their price objective on shares of Equinox Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Cormark upgraded Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. TD Securities raised their price target on shares of Equinox Gold from C$20.00 to C$22.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$22.40.

Equinox Gold Stock Performance

Shares of EQX opened at C$19.68 on Monday. Equinox Gold has a one year low of C$7.13 and a one year high of C$19.97. The firm has a market capitalization of C$15.44 billion, a PE ratio of 196.80 and a beta of 2.41. The company has a 50-day simple moving average of C$16.57 and a two-hundred day simple moving average of C$12.32. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Equinox Gold (TSE:EQX) last issued its quarterly 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 company had revenue of C$1.14 billion during the quarter. On average, analysts anticipate that Equinox Gold will post 1.3865979 EPS for the current fiscal year.

Insider Activity at Equinox Gold

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