Canadian Imperial Bank of Commerce Has Lowered Expectations for Equinox Gold (TSE:EQX) Stock Price

Equinox Gold (TSE:EQX) had its price target dropped by Canadian Imperial Bank of Commerce from C$31.00 to C$27.00 in a research note issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 119.87% from the stock’s current price.

Separately, TD decreased their price target on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$24.50.

Equinox Gold Price Performance

Shares of TSE:EQX traded down C$0.82 during trading on Thursday, reaching C$12.28. The stock had a trading volume of 1,833,003 shares, compared to its average volume of 3,585,193. The business has a fifty day moving average price of C$15.81 and a 200-day moving average price of C$18.95. Equinox Gold has a 1-year low of C$8.27 and a 1-year high of C$25.87. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.31 and a current ratio of 1.24. The stock has a market cap of C$9.69 billion, a PE ratio of 13.64 and a beta of 3.11.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.39 earnings per share for the quarter. Equinox Gold had a return on equity of 10.88% and a net margin of 21.78%.The company had revenue of C$1.20 billion for the quarter. On average, equities analysts forecast that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniella Elena Dimitrov bought 7,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was acquired at an average cost of C$14.40 per share, with a total value of C$100,800.00. Following the purchase, the insider directly owned 109,199 shares of the company’s stock, valued at C$1,572,465.60. The trade was a 6.85% increase in their ownership of the stock. Also, Director Lenard Boggio purchased 1,922 shares of the stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of C$18.58 per share, for a total transaction of C$35,710.76. Following the transaction, the director owned 76,069 shares in the company, valued at approximately C$1,413,362.02. The trade was a 2.59% increase in their position. Insiders purchased 11,922 shares of company stock valued at $187,391 in the last three months. 6.40% of the stock is currently owned by insiders.

About Equinox Gold

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.