Equinox Gold (CVE:EQX) Shares Down 0.9% – Here’s Why

Equinox Gold Corp (CVE:EQX) fell 0.9% during mid-day trading on Wednesday . The stock traded as low as C$7.75 and last traded at C$7.88. 53,583 shares traded hands during trading, a decline of 65% from the average session volume of 153,529 shares. The stock had previously closed at C$7.95.

Wall Street Analysts Forecast Growth

EQX has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Equinox Gold from C$9.00 to C$8.50 and set a “sector perform” rating for the company in a research note on Wednesday, June 18th. CIBC lifted their target price on shares of Equinox Gold from C$9.50 to C$10.00 and gave the stock a “neutral” rating in a research report on Monday, April 7th. BMO Capital Markets set a C$11.00 price target on shares of Equinox Gold and gave the company an “outperform” rating in a research report on Wednesday, June 18th. Royal Bank Of Canada raised their price objective on shares of Equinox Gold from C$11.00 to C$12.00 in a research note on Wednesday, June 4th. Finally, National Bankshares boosted their target price on shares of Equinox Gold from C$13.00 to C$14.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$11.28.

Equinox Gold Stock Down 0.9%

The company has a quick ratio of 1.11, a current ratio of 1.94 and a debt-to-equity ratio of 64.28. The firm has a market capitalization of C$892.46 million and a PE ratio of -43.54. The business’s 50-day moving average price is C$7.88 and its 200-day moving average price is C$7.88.

Insider Buying and Selling

In other news, Director Maryse Belanger sold 17,148 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of C$8.34, for a total value of C$143,014.32. Also, Director Michael Vint acquired 9,950 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were purchased at an average price of C$8.63 per share, with a total value of C$85,818.75.

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.