Equinox Gold (TSE:EQX) Stock Rating Upgraded by Royal Bank Of Canada

Key Points

• Equinox Gold has been upgraded by the Royal Bank of Canada from a "hold" rating to a "moderate buy" rating, indicating increased confidence in the stock's performance.
• TD Securities and Cormark have also raised their ratings on Equinox Gold, with TD upgrading it to a "strong-buy," reflecting a strong positive trend in analyst sentiment.
• The company operates with a market capitalization of C$11.66 billion and aims to achieve over one million ounces of annual gold production, showcasing its growth potential in the market.

Equinox Gold (TSE:EQX - Get Free Report) was upgraded by Royal Bank Of Canada from a "hold" rating to a "moderate buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. TD Securities upgraded Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 16th. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, Equinox Gold has a consensus rating of "Strong Buy".

Equinox Gold Stock Down 2.1%

EQX stock traded down C$0.31 during trading on Wednesday, hitting C$14.62. 1,423,088 shares of the company's stock were exchanged, compared to its average volume of 1,918,953. The business has a 50-day moving average price of C$10.35 and a two-hundred day moving average price of C$9.53. The stock has a market capitalization of C$11.43 billion, a price-to-earnings ratio of -112.46 and a beta of 1.79. Equinox Gold has a 52-week low of C$6.93 and a 52-week high of C$15.32. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65.

Insider Buying and Selling

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of Equinox Gold stock in a transaction that occurred on 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 transaction, the director owned 1,706,616 shares of the company's stock, valued at C$25,445,644.56. The trade was a 5.80% decrease in their ownership of the stock. 6.40% of the stock is currently owned by company insiders.

Equinox Gold Company Profile

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.