Equinox Gold Corp. (TSE:EQX) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Equinox Gold Corp. (TSE:EQX) have earned a consensus rating of “Strong Buy” from the five research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$23.00.

Several brokerages have recently weighed in on EQX. Royal Bank Of Canada raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. TD Securities raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 16th. Cormark raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. National Bankshares raised their price target on shares of Equinox Gold from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th.

Insider Activity at Equinox Gold

In other news, insider David Chester Schummer bought 9,100 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average cost of C$15.20 per share, with a total value of C$138,320.00. Following the completion of the purchase, the insider owned 168,222 shares of the company’s stock, valued at C$2,556,974.40. This represents a 5.72% increase in their ownership of the stock. Also, Director Blayne Barry Johnson sold 105,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$14.91, for a total transaction of C$1,565,550.00. Following the completion of the transaction, the director directly owned 1,706,616 shares of the company’s stock, valued at C$25,445,644.56. This represents a 5.80% decrease in their ownership of the stock. Corporate insiders own 6.40% of the company’s stock.

Equinox Gold Price Performance

TSE EQX opened at C$14.57 on Wednesday. The business has a 50 day simple moving average of C$14.91 and a 200 day simple moving average of C$11.08. Equinox Gold has a 52-week low of C$6.93 and a 52-week high of C$18.15. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. The stock has a market cap of C$11.39 billion, a price-to-earnings ratio of -112.08 and a beta of 2.41.

Equinox Gold Company Profile

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.