Scotiabank Boosts Equinox Gold (CVE:EQX) Price Target to C$7.75

Equinox Gold (CVE:EQX) had its target price boosted by equities research analysts at Scotiabank from C$6.75 to C$7.75 in a research note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price target suggests a potential downside of 1.65% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group upped their price target on Equinox Gold from C$11.75 to C$12.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Haywood Securities reduced their target price on shares of Equinox Gold from C$11.50 to C$10.50 in a report on Monday, February 26th. CIBC dropped their target price on Equinox Gold from C$9.25 to C$8.75 in a report on Friday, May 10th. Royal Bank of Canada increased their price objective on shares of Equinox Gold from C$7.00 to C$8.00 in a research report on Wednesday, May 1st. Finally, TD Securities decreased their target price on shares of Equinox Gold from C$10.00 to C$9.50 in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$9.20.

Equinox Gold Price Performance

Shares of CVE:EQX opened at C$7.88 on Thursday. The business has a fifty day simple moving average of C$7.88 and a 200-day simple moving average of C$7.88. Equinox Gold has a 52 week low of C$4.25 and a 52 week high of C$8.90. The company has a market cap of C$892.46 million and a P/E 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.

Insider Activity at Equinox Gold

In related news, Director Lenard Boggio sold 52,741 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of C$7.62, for a total transaction of C$401,886.42.

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.