Equinox Gold (TSE:EQX) Hits New 52-Week High After Analyst Upgrade

Equinox Gold Corp. (TSE:EQX) hit a new 52-week high during mid-day trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$19.00 to C$25.00. The company traded as high as C$19.97 and last traded at C$19.83, with a volume of 1757743 shares trading hands. The stock had previously closed at C$19.40.

A number of other brokerages also recently weighed in on EQX. Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. BMO Capital Markets boosted their target price on shares of Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. National Bankshares increased their price target on Equinox Gold from C$23.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday. TD Securities raised their price target on Equinox Gold from C$20.00 to C$22.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$23.67.

Equinox Gold Price Performance

The firm has a 50 day moving average price of C$17.07 and a 200 day moving average price of C$12.73. The stock has a market capitalization of C$15.57 billion, a PE ratio of 198.40 and a beta of 2.58. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65.

Equinox Gold (TSE:EQX) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. The business had revenue of C$1.14 billion during the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. Research analysts anticipate that Equinox Gold Corp. will post 1.3865979 earnings per share for the current year.

Equinox Gold Company Profile

Equinox Gold is a growth-focused gold producer operating entirely in the Americas, with projects in Canada, the USA, Mexico and Brazil. Equinox Gold has seven operating mines and a clear path to achieve more than one million ounces of annual gold production from a pipeline of development and expansion projects.