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

CIBC lowered shares of Equinox Gold (TSE:EQX) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday,BayStreet.CA reports. CIBC currently has C$21.50 target price on the stock, down from their prior target price of C$23.00.

A number of other equities analysts have also weighed in on EQX. BMO Capital Markets increased their price target on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Stifel Canada upgraded shares of Equinox Gold to a “strong-buy” rating in a report on Monday, December 1st. Cibc Captl Mkts downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Cormark decreased their price objective on shares of Equinox Gold from C$22.50 to C$21.00 in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and an average price target of C$23.07.

Equinox Gold Price Performance

TSE EQX opened at C$18.97 on Tuesday. Equinox Gold has a 1 year low of C$7.13 and a 1 year high of C$20.78. The business’s fifty day moving average is C$17.51 and its two-hundred day moving average is C$13.14. The stock has a market capitalization of C$14.89 billion, a P/E ratio of 189.70 and a beta of 2.58. 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 (TSE:EQX) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 earnings per share for the quarter. The business 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%. On average, research analysts forecast that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

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.