Equinox Gold (CVE:EQX) Price Target Increased to C$11.00 by Analysts at Royal Bank of Canada

Equinox Gold (CVE:EQX) had its target price raised by investment analysts at Royal Bank of Canada from C$10.00 to C$11.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 39.59% from the company’s current price.

A number of other equities analysts also recently commented on EQX. Haywood Securities reduced their price objective on shares of Equinox Gold from C$12.75 to C$11.50 in a report on Friday, August 9th. CIBC lifted their price objective on Equinox Gold from C$8.75 to C$9.50 in a report on Wednesday, July 10th. Canaccord Genuity Group upped their price objective on Equinox Gold from C$12.00 to C$12.75 in a research note on Tuesday, July 23rd. Finally, Scotiabank boosted their price target on Equinox Gold from C$7.75 to C$8.50 in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$9.77.

Equinox Gold Stock Performance

Shares of EQX traded down C$0.07 on Tuesday, reaching C$7.88. 53,583 shares of the stock traded hands, compared to its average volume of 153,529. The firm has a market cap of C$892.46 million and a price-to-earnings ratio of -43.54. Equinox Gold has a 12 month low of C$4.25 and a 12 month high of C$8.90. The stock’s 50-day moving average price is C$7.88 and its 200-day moving average price is 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 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.