Equinox Gold (TSE:EQX) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold (TSE:EQX) from a neutral rating to an outperform rating in a research report released on Wednesday,BayStreet.CA reports. The firm currently has C$31.00 target price on the stock, up from their prior target price of C$21.50.

EQX has been the topic of a number of other research reports. National Bankshares cut their price target on Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, January 7th. BMO Capital Markets raised their target price on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. TD Securities lifted their target price on Equinox Gold from C$21.00 to C$26.00 in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their price target on Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. Finally, Cormark lowered their price target on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$24.21.

Equinox Gold Stock Performance

EQX stock opened at C$19.95 on Wednesday. Equinox Gold has a 1 year low of C$7.71 and a 1 year high of C$23.49. The stock has a market capitalization of C$15.66 billion, a price-to-earnings ratio of 199.50 and a beta of 2.32. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. The stock’s fifty day moving average is C$20.10 and its two-hundred day moving average is C$16.08.

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 for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. On average, research analysts predict that Equinox Gold will post 1.3865979 EPS for the current year.

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.