National Bank Financial Has Lowered Expectations for Equinox Gold (TSE:EQX) Stock Price

Equinox Gold (TSE:EQX) had its price objective decreased by National Bank Financial from C$23.00 to C$22.00 in a research note issued to investors on Wednesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial‘s target price suggests a potential upside of 42.58% from the company’s current price.

A number of other research firms also recently weighed in on EQX. Canadian Imperial Bank of Commerce decreased their target price on Equinox Gold from C$31.00 to C$27.00 in a research report on Thursday, July 16th. Scotiabank raised Equinox Gold to a “strong-buy” rating in a report on Friday, August 7th. Finally, TD set a C$20.00 price objective on Equinox Gold and gave the stock a “buy” rating in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, Equinox Gold presently has a consensus rating of “Buy” and an average price target of C$24.57.

Equinox Gold Stock Performance

Equinox Gold stock traded down C$0.54 during mid-day trading on Wednesday, reaching C$15.43. The company had a trading volume of 1,719,169 shares, compared to its average volume of 3,783,933. The company has a quick ratio of 1.31, a current ratio of 0.93 and a debt-to-equity ratio of 5.14. Equinox Gold has a 52 week low of C$11.91 and a 52 week high of C$25.87. The company has a 50 day moving average of C$16.02 and a 200-day moving average of C$17.52. The firm has a market cap of C$18.01 billion, a price-to-earnings ratio of 14.29 and a beta of 3.51.

Equinox Gold (TSE:EQX) last posted its quarterly earnings data on Monday, November 9th. The company reported C$0.27 earnings per share (EPS) for the quarter. The company had revenue of C$1.49 billion for the quarter. Equinox Gold had a net margin of 23.98% and a return on equity of 11.50%. On average, sell-side analysts expect that Equinox Gold will post 1.39 EPS for the current fiscal year.

About Equinox Gold

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices. Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap?leach and carbon?in?leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.