Canadian Imperial Bank of Commerce Cuts Equinox Gold (TSE:EQX) Price Target to C$27.00

Equinox Gold (TSE:EQX) had its price target reduced by Canadian Imperial Bank of Commerce from C$31.00 to C$27.00 in a report released on Thursday,BayStreet.CA reports.

Separately, TD dropped their price objective on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating for the company in a research note on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Equinox Gold currently has an average rating of “Buy” and a consensus price target of C$24.50.

Equinox Gold Stock Performance

Shares of TSE EQX opened at C$12.10 on Thursday. The business has a fifty day simple moving average of C$15.51 and a 200 day simple moving average of C$18.85. The company has a current ratio of 1.24, a quick ratio of 1.31 and a debt-to-equity ratio of 10.04. The firm has a market capitalization of C$9.55 billion, a price-to-earnings ratio of 13.44 and a beta of 3.11. Equinox Gold has a one year low of C$8.30 and a one year high of C$25.87.

Equinox Gold (TSE:EQX) last issued its earnings results on Wednesday, May 6th. The company reported C$0.39 EPS for the quarter. Equinox Gold had a return on equity of 10.88% and a net margin of 21.78%.The firm had revenue of C$1.20 billion during the quarter. Sell-side analysts expect that Equinox Gold will post 1.3865979 EPS for the current year.

Equinox Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, June 5th were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s dividend payout ratio is currently 1.67%.

Insider Transactions at Equinox Gold

In related news, insider Ryan King purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of C$16.96 per share, with a total value of C$50,880.00. Following the purchase, the insider directly owned 324,062 shares in the company, valued at C$5,496,091.52. This represents a 0.93% increase in their ownership of the stock. Also, insider Daniella Elena Dimitrov purchased 7,000 shares of the stock in a transaction on Friday, June 12th. The stock was bought at an average price of C$14.40 per share, for a total transaction of C$100,800.00. Following the completion of the transaction, the insider directly owned 109,199 shares of the company’s stock, valued at approximately C$1,572,465.60. This trade represents a 6.85% increase in their ownership of the stock. In the last ninety days, insiders purchased 11,922 shares of company stock valued at $187,391. Corporate insiders own 6.40% of the company’s stock.

About Equinox Gold

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices.

Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap‐leach and carbon‐in‐leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development‐stage and advanced exploration properties across North and South America.