CIBC Raises Equinox Gold Cp (NASDAQ:EQX) Price Target to $18.00

Equinox Gold Cp (NASDAQ:EQX) had its target price raised by CIBC from $16.00 to $18.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on EQX. TD Securities increased their price objective on Equinox Gold Cp from $21.00 to $25.00 and gave the company a buy rating in a report on Tuesday. BMO Capital Markets increased their price objective on Equinox Gold Cp from $23.50 to $25.00 and gave the company an outperform rating in a report on Tuesday. Scotiabank increased their price objective on Equinox Gold Cp from $14.50 to $17.00 and gave the company an outperform rating in a report on Monday, July 20th. Zacks Investment Research raised Equinox Gold Cp from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Friday, August 7th. Finally, Stifel Nicolaus initiated coverage on Equinox Gold Cp in a report on Friday, April 17th. They issued a buy rating and a $19.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $17.78.

EQX traded down $0.01 on Wednesday, reaching $12.24. The company’s stock had a trading volume of 950,864 shares, compared to its average volume of 1,467,347. The stock has a 50 day moving average of $11.54 and a two-hundred day moving average of $9.15. Equinox Gold Cp has a fifty-two week low of $4.63 and a fifty-two week high of $12.65.

Equinox Gold Cp (NASDAQ:EQX) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $130.00 million during the quarter.

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Equinox Gold Cp by 791.0% in the first quarter. Van ECK Associates Corp now owns 12,119,470 shares of the company’s stock worth $80,930,000 after acquiring an additional 10,759,270 shares in the last quarter. Donald Smith & CO. Inc. purchased a new position in Equinox Gold Cp in the first quarter worth $23,855,000. Ruffer LLP purchased a new position in Equinox Gold Cp in the first quarter worth $23,178,000. Paulson & CO. Inc. purchased a new position in Equinox Gold Cp in the second quarter worth $28,050,000. Finally, Hillsdale Investment Management Inc. raised its position in Equinox Gold Cp by 208.9% in the first quarter. Hillsdale Investment Management Inc. now owns 2,578,245 shares of the company’s stock worth $17,230,000 after acquiring an additional 1,743,545 shares in the last quarter.

About Equinox Gold Cp

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company's principal properties include the Aurizona gold mine covering a total land package of approximately 2,000 square kilometers located in Maranhão State, Brazil; and the Mesquite gold mine covering a total area of 1,890 hectares and Castle Mountain property situated in California, the United States.

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Analyst Recommendations for Equinox Gold Cp (NASDAQ:EQX)

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