Equinox Gold (CVE:EQX) Price Target Cut to C$10.00

Equinox Gold (CVE:EQX) had its price objective dropped by stock analysts at Royal Bank of Canada from C$11.00 to C$10.00 in a research note issued on Monday, BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 26.90% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their target price on Equinox Gold from C$12.00 to C$12.75 in a report on Tuesday, July 23rd. Scotiabank upped their price target on Equinox Gold from C$7.75 to C$8.50 in a research report on Monday, August 19th. Haywood Securities decreased their target price on Equinox Gold from C$12.75 to C$11.50 in a research note on Friday, August 9th. Finally, CIBC reduced their price objective on Equinox Gold from C$9.50 to C$8.80 in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$9.73.

Equinox Gold Price Performance

CVE:EQX traded down C$0.07 during trading hours on Monday, hitting C$7.88. The company’s stock had a trading volume of 53,583 shares, compared to its average volume of 153,529. The stock has a fifty day simple moving average of C$7.88 and a 200-day simple moving average of C$7.88. The company has a market capitalization of C$892.46 million and a P/E ratio of -43.54. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.94 and a quick ratio of 1.11. Equinox Gold has a twelve month low of C$4.25 and a twelve month high of C$8.90.

About Equinox Gold

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company's principal properties include the Aurizona project covering a total land package of approximately 223,160 hectares located in Maranhão State, Brazil; and the Castle Mountain property situated in California, the United States.