Equinox Gold (CVE:EQX) PT Raised to C$12.00 at Canaccord Genuity Group

Equinox Gold (CVE:EQX) had its target price lifted by analysts at Canaccord Genuity Group from C$11.75 to C$12.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 52.28% from the company’s previous close.

A number of other research firms have also recently commented on EQX. Desjardins raised Equinox Gold from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$7.25 to C$7.75 in a report on Tuesday, January 30th. BMO Capital Markets boosted their target price on Equinox Gold from C$8.00 to C$10.00 in a research note on Monday. Haywood Securities reduced their price target on shares of Equinox Gold from C$11.50 to C$10.50 in a research note on Monday, February 26th. CIBC upped their price objective on shares of Equinox Gold from C$6.80 to C$9.25 in a research report on Monday, April 15th. Finally, Scotiabank cut their target price on shares of Equinox Gold from C$7.00 to C$6.75 and set a “sector perform” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Equinox Gold presently has an average rating of “Moderate Buy” and a consensus price target of C$9.03.

Equinox Gold Price Performance

CVE:EQX traded down C$0.07 during mid-day trading on Monday, reaching C$7.88. The stock had a trading volume of 53,583 shares, compared to its average volume of 153,529. The stock has a 50-day simple moving average of C$7.88 and a two-hundred day simple moving average of C$7.88. The company has a debt-to-equity ratio of 64.28, a current ratio of 1.94 and a quick ratio of 1.11. Equinox Gold has a 12 month low of C$4.25 and a 12 month high of C$8.90. The stock has a market capitalization of C$892.46 million and a PE ratio of -43.54.

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.