Equinox Gold (TSE:EQX) Upgraded by Scotiabank to Outperform Rating

Scotiabank upgraded shares of Equinox Gold (TSE:EQX) from a hold rating to an outperform rating in a research report report published on Friday, MarketBeat.com reports.

A number of other equities analysts also recently weighed in on the company. TD Securities upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 16th. National Bankshares upped their price objective on shares of Equinox Gold from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. BMO Capital Markets increased their target price on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday. Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average target price of C$21.50.

Equinox Gold Stock Up 1.9%

TSE:EQX traded up C$0.30 during trading hours on Friday, hitting C$16.40. 2,237,962 shares of the company’s stock traded hands, compared to its average volume of 2,063,572. The stock’s fifty day moving average price is C$15.16 and its two-hundred day moving average price is C$11.19. The firm has a market cap of C$12.85 billion, a P/E ratio of -126.15 and a beta of 2.41. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. Equinox Gold has a twelve month low of C$7.12 and a twelve month high of C$18.15.

Insider Buying and Selling

In other news, insider David Chester Schummer purchased 9,100 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of C$15.20 per share, with a total value 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 business’s 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 owned 1,706,616 shares of the company’s stock, valued at C$25,445,644.56. The trade was 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.