Scotiabank Lowers Equinox Gold (CVE:EQX) Price Target to C$8.50

Equinox Gold (CVE:EQX) had its price objective dropped by stock analysts at Scotiabank from C$9.00 to C$8.50 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 7.87% from the company’s current price.

A number of other brokerages have also recently weighed in on EQX. CIBC boosted their price target on Equinox Gold from C$9.50 to C$10.00 and gave the stock a “neutral” rating in a research report on Monday, April 7th. National Bankshares lifted their price objective on Equinox Gold from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Royal Bank Of Canada lifted their price objective on Equinox Gold from C$11.00 to C$12.00 in a research note on Wednesday, June 4th. Finally, BMO Capital Markets set a C$11.00 price objective on Equinox Gold and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Equinox Gold presently has a consensus rating of “Hold” and a consensus price target of C$11.28.

Equinox Gold Price Performance

Shares of CVE:EQX opened at C$7.88 on Wednesday. Equinox Gold has a fifty-two week low of C$4.25 and a fifty-two week high of C$8.90. The business has a 50-day moving average of C$7.88 and a two-hundred day moving average of C$7.88. The stock 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.

Insider Activity

In other news, Director Maryse Belanger sold 17,148 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$8.34, for a total value of C$143,014.32.

Equinox Gold Company Profile

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.