Equinox Gold (TSE:EQX) Stock Rating Upgraded by Cibc World Mkts

Key Points

• Equinox Gold's stock rating was upgraded from "hold" to a "strong-buy" by Cibc World Markets, reflecting positive sentiment among analysts.
• The company has a market capitalization of C$12.74 billion and a price-to-earnings ratio of -125.31.
• Insider Blayne Barry Johnson sold 105,000 shares at an average price of C$14.91, decreasing his ownership by 5.80% but still retaining a significant stake in the company.

Equinox Gold (TSE:EQX - Get Free Report) was upgraded by equities researchers at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. TD Securities raised Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 16th. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, Equinox Gold presently has a consensus rating of "Strong Buy".

Equinox Gold Stock Up 1.4%

EQX stock opened at C$16.29 on Thursday. Equinox Gold has a fifty-two week low of C$6.93 and a fifty-two week high of C$17.03. The business's 50-day moving average is C$12.91 and its two-hundred day moving average is C$10.27. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. The company has a market cap of C$12.74 billion, a price-to-earnings ratio of -125.31 and a beta of 2.18.

Insider Activity

In related news, Director Blayne Barry Johnson sold 105,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total transaction of C$1,565,550.00. Following the completion of the sale, the director owned 1,706,616 shares in the company, valued at approximately C$25,445,644.56. This trade represents a 5.80% decrease in their ownership of the stock. Corporate insiders own 6.40% of the company's stock.

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.

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