Cormark Forecasts Strong Price Appreciation for Equinox Gold (CVE:EQX) Stock

Equinox Gold (CVE:EQX) had its price objective lifted by equities research analysts at Cormark from C$9.00 to C$10.50 in a note issued to investors on Friday,BayStreet.CA reports. Cormark’s price target points to a potential upside of 33.25% from the stock’s previous close.

EQX has been the subject of several other reports. Royal Bank of Canada decreased their target price on shares of Equinox Gold from C$11.00 to C$10.00 in a research note on Monday, October 21st. CIBC increased their target price on shares of Equinox Gold from C$8.80 to C$9.50 in a report on Monday, December 2nd. Finally, Scotiabank raised their target price on Equinox Gold from C$8.50 to C$8.75 in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$10.03.

Equinox Gold Price Performance

CVE:EQX opened at C$7.88 on Friday. Equinox Gold has a 52-week low of C$4.25 and a 52-week high of C$8.90. The company has a debt-to-equity ratio of 64.28, a quick ratio of 1.11 and a current ratio of 1.94. The firm has a market capitalization of C$892.46 million and a price-to-earnings ratio of -43.54. The stock has a fifty day moving average of C$7.88 and a 200 day moving average of C$7.88.

Insider Transactions at Equinox Gold

In other news, Senior Officer Gordana Vicentijevic sold 7,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$7.67, for a total transaction of C$53,690.00. Also, Senior Officer Sebastian D’amici sold 12,000 shares of the stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of C$8.75, for a total transaction of C$105,000.00.

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.