Equinox Gold (CVE:EQX) Stock Price Expected to Rise, CIBC Analyst Says

Equinox Gold (CVE:EQX) had its target price hoisted by investment analysts at CIBC from C$9.50 to C$10.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 26.90% from the stock’s current price.

Several other research firms also recently weighed in on EQX. National Bankshares upped their price target on shares of Equinox Gold from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 19th. Cormark lifted their price target on Equinox Gold from C$9.00 to C$10.50 in a report on Friday, January 10th. Finally, Scotiabank increased their price objective on Equinox Gold from C$8.75 to C$9.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$10.81.

Equinox Gold Stock Performance

Shares of CVE:EQX traded down C$0.07 during midday trading on Monday, reaching 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 moving average of C$7.88 and a 200 day moving average of C$7.88. The firm has a market capitalization of C$892.46 million and a PE ratio of -43.54. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 64.28. Equinox Gold has a twelve month low of C$4.25 and a twelve month high of C$8.90.

Insiders Place Their Bets

In related news, Senior Officer Sebastian D’amici sold 12,000 shares of the stock in a transaction on Thursday, January 9th. The stock was sold at an average price of C$8.75, for a total value of C$105,000.00. Also, Senior Officer Gordana Vicentijevic sold 10,325 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of C$8.51, for a total transaction of C$87,865.75. Insiders have sold 64,008 shares of company stock valued at $545,544 in the last ninety days.

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.