Equinox Gold (TSE:EQX) Given New C$20.00 Price Target at TD

Key Points

• TD raised its price target for Equinox Gold from C$18.00 to C$20.00 and maintained a “buy” rating, implying 17.37% upside from the prior close.
• Analyst sentiment remains positive: Equinox Gold has a consensus “Buy” rating and a C$24.50 average price target, with one Strong Buy and five Buy ratings.
• Shares rose 5.4% to C$17.04 during Thursday trading. The company reported quarterly EPS of C$0.21 and revenue of C$1.09 billion.

Equinox Gold (TSE:EQX - Get Free Report) had its target price increased by stock analysts at TD from C$18.00 to C$20.00 in a research report issued on Thursday, BayStreet reports. The firm currently has a "buy" rating on the stock. TD's price objective suggests a potential upside of 17.37% from the company's previous close.

EQX has been the subject of a number of other reports. Canadian Imperial Bank of Commerce decreased their price objective on Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. Scotiabank upgraded Equinox Gold to a "strong-buy" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$24.50.

Equinox Gold Trading Up 5.4%

TSE:EQX traded up C$0.87 during mid-day trading on Thursday, hitting C$17.04. 1,571,082 shares of the company's stock were exchanged, compared to its average volume of 3,813,635. Equinox Gold has a fifty-two week low of C$11.91 and a fifty-two week high of C$25.87. The company has a current ratio of 1.33, a quick ratio of 1.31 and a debt-to-equity ratio of 9.15. The firm has a market capitalization of C$19.89 billion, a P/E ratio of 15.78 and a beta of 3.35. The company has a 50 day simple moving average of C$15.54 and a 200-day simple moving average of C$17.26.

Equinox Gold (TSE:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$0.21 earnings per share (EPS) for the quarter. The firm had revenue of C$1.09 billion during the quarter. Equinox Gold had a net margin of 26.36% and a return on equity of 13.85%. As a group, research analysts expect that Equinox Gold will post 1.3865979 earnings per share for the current year.

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.

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