Equinox Gold (EQX) Receives a Rating Update from a Top Analyst

Stifel Nicolaus analyst Ingrid Rico maintained a Buy rating on Equinox Gold today and set a price target of C$24.00.

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Rico covers the Basic Materials sector, focusing on stocks such as Dundee Precious Mtl, Orla Mining, and B2Gold. According to TipRanks, Rico has an average return of 37.0% and a 74.47% success rate on recommended stocks.

In addition to Stifel Nicolaus, Equinox Gold also received a Buy from RBC Capital’s Michael Siperco in a report issued on December 10. However, yesterday, CIBC downgraded Equinox Gold (NYSE MKT: EQX) to a Hold.

Based on Equinox Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$809.93 million and a net profit of C$84.63 million. In comparison, last year the company earned a revenue of C$428.39 million and had a net profit of C$303 thousand

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQX in relation to earlier this year.