Scotiabank Issues Pessimistic Forecast for Equinox Gold (CVE:EQX) Stock Price

Equinox Gold (CVE:EQX) had its price target decreased by Scotiabank from C$9.00 to C$8.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

A number of other brokerages have also recently issued reports on EQX. BMO Capital Markets set a C$11.00 price objective on Equinox Gold and gave the company an “outperform” rating in a research note on Wednesday. CIBC boosted their price target on Equinox Gold from C$9.50 to C$10.00 and gave the stock a “neutral” rating in a research note on Monday, April 7th. National Bankshares boosted their price target on Equinox Gold from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 19th. Finally, Royal Bank Of Canada boosted their price target on Equinox Gold from C$11.00 to C$12.00 in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Equinox Gold currently has an average rating of “Hold” and a consensus target price of C$11.28.

Equinox Gold Trading Down 0.9%

EQX opened at C$7.88 on Wednesday. The business has a 50 day moving average of C$7.88 and a 200-day moving average of C$7.88. The stock has a market cap of C$892.46 million and a PE ratio of -43.54. Equinox Gold has a 52 week low of C$4.25 and a 52 week high of C$8.90. The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 64.28.

Insider Buying and Selling at Equinox Gold

In other news, Director Maryse Belanger sold 17,148 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$8.34, for a total value of C$143,014.32.

About Equinox Gold

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.