CIBC Downgrades Equinox Gold (TSE:EQX) to Neutral

Equinox Gold (TSE:EQX) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$21.50 price objective on the stock, down from their previous price objective of C$23.00. CIBC’s price target points to a potential upside of 13.58% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus set a C$24.00 price objective on Equinox Gold and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada lifted their target price on Equinox Gold from C$19.00 to C$25.00 in a research note on Wednesday, December 10th. Cormark decreased their target price on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday. Finally, Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus target price of C$23.07.

Equinox Gold Stock Down 1.5%

Shares of TSE EQX traded down C$0.29 during trading hours on Tuesday, hitting C$18.93. The company had a trading volume of 1,444,566 shares, compared to its average volume of 2,092,442. Equinox Gold has a 1-year low of C$7.13 and a 1-year high of C$20.78. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The firm’s 50 day moving average is C$17.34 and its 200-day moving average is C$12.98. The stock has a market capitalization of C$14.86 billion, a P/E ratio of 189.30 and a beta of 2.58.

Equinox Gold (TSE:EQX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. The firm had revenue of C$1.14 billion for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. On average, analysts expect that Equinox Gold will post 1.3865979 earnings per share for the current fiscal year.

About Equinox Gold

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.