Equinox Gold (TSE:EQX) Cut to Neutral at CIBC

Equinox Gold (TSE:EQX) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday,BayStreet.CA reports. They currently have a C$26.50 price target on the stock, down from their prior price target of C$31.00. CIBC’s price target would indicate a potential upside of 40.73% from the stock’s previous close.

EQX has been the subject of several other reports. Royal Bank Of Canada boosted their price objective on Equinox Gold from C$19.00 to C$25.00 in a report on Wednesday, December 10th. BMO Capital Markets lifted their price target on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Stifel Nicolaus increased their price objective on shares of Equinox Gold from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Cibc Captl Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$24.21.

Equinox Gold Trading Down 9.9%

EQX stock traded down C$2.07 during trading on Thursday, hitting C$18.83. The company had a trading volume of 3,599,502 shares, compared to its average volume of 2,925,247. The firm has a 50-day moving average price of C$20.10 and a 200-day moving average price of C$15.98. Equinox Gold has a 12 month low of C$7.71 and a 12 month high of C$23.49. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The stock has a market cap of C$14.78 billion, a price-to-earnings ratio of 188.30 and a beta of 2.32.

Equinox Gold (TSE:EQX) last released its earnings results on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. The company had revenue of C$1.14 billion during the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. As a group, analysts predict 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.