Equinox Gold (TSE:EQX) Upgraded to “Outperform” at Scotiabank

Equinox Gold (TSE:EQX) was upgraded by research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports.

EQX has been the subject of a number of other research reports. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Royal Bank Of Canada upgraded Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. National Bankshares upped their price target on shares of Equinox Gold from C$19.00 to C$23.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Cormark raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. Finally, BMO Capital Markets boosted their target price on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, Equinox Gold presently has an average rating of “Strong Buy” and a consensus target price of C$21.50.

Equinox Gold Stock Performance

EQX traded up C$0.30 during mid-day trading on Friday, reaching C$16.40. 2,237,962 shares of the company traded hands, compared to its average volume of 2,063,572. The company’s fifty day moving average price is C$15.07 and its 200-day moving average price is C$11.14. The stock has a market capitalization of C$12.82 billion, a P/E ratio of -126.15 and a beta of 2.41. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. Equinox Gold has a 52-week low of C$7.12 and a 52-week high of C$18.15.

Insider Transactions at Equinox Gold

In other news, insider David Chester Schummer purchased 9,100 shares of the stock in a transaction on Thursday, September 11th. The shares were acquired at an average price of C$15.20 per share, with a total value of C$138,320.00. Following the completion of the acquisition, the insider directly owned 168,222 shares of the company’s stock, valued at C$2,556,974.40. This trade represents a 5.72% increase in their ownership of the stock. Also, Director Blayne Barry Johnson sold 105,000 shares of Equinox Gold stock in a transaction that occurred 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 transaction, the director directly owned 1,706,616 shares in the company, valued at C$25,445,644.56. This represents a 5.80% decrease in their position. 6.40% of the stock is owned by insiders.

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.