TD Lowers Equinox Gold (TSE:EQX) Price Target to C$20.00

Equinox Gold (TSE:EQX) had its target price cut by equities research analysts at TD from C$23.00 to C$20.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price target indicates a potential upside of 43.88% from the company’s previous close.

Equinox Gold Price Performance

Shares of TSE EQX traded up C$0.09 during trading hours on Monday, hitting C$13.90. 1,623,627 shares of the stock were exchanged, compared to its average volume of 3,660,009. The company’s fifty day simple moving average is C$17.30 and its two-hundred day simple moving average is C$19.49. The company has a market cap of C$10.97 billion, a PE ratio of 15.44 and a beta of 2.96. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.31 and a current ratio of 1.24. Equinox Gold has a 1-year low of C$7.71 and a 1-year high of C$25.87.

Equinox Gold (TSE:EQX) last released its quarterly earnings results 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, sell-side analysts predict that Equinox Gold will post 1.3865979 EPS for the current year.

Insider Activity

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

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.