In a report released on August 7, Wayne Lam from RBC Capital maintained a Sell rating on Equinox Gold (EQX – Research Report), with a price target of C$5.00. The company’s shares closed yesterday at $4.89.
According to TipRanks, Lam is an analyst with an average return of -6.6% and a 43.18% success rate. Lam covers the Basic Materials sector, focusing on stocks such as Torex Gold Resources, OceanaGold, and Equinox Gold.
The word on The Street in general, suggests a Hold analyst consensus rating for Equinox Gold with a $5.22 average price target.
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Based on Equinox Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $234.09 million and a net profit of $17.4 million. In comparison, last year the company earned a revenue of $223.16 million and had a GAAP net loss of $19.78 million
Based on the recent corporate insider activity of 134 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.
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Equinox Gold Corp. engages in the exploration of gold mining properties. It operates mesquite & Arizona gold mine, castle mountain, gold and copper projects. The company was founded by Marc Pais on March 23, 2007 and is headquartered in Vancouver, Canada.
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