Equinox Gold (TSE:EQX) Reaches New 52-Week High Following Analyst Upgrade

Equinox Gold Corp. (TSE:EQX) reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from C$24.00 to C$25.00. Stifel Nicolaus currently has a buy rating on the stock. Equinox Gold traded as high as C$23.49 and last traded at C$23.22, with a volume of 2050170 shares trading hands. The stock had previously closed at C$22.15.

EQX has been the subject of a number of other research reports. CIBC cut Equinox Gold from an “outperform” rating to a “neutral” rating and dropped their price target for the company from C$23.00 to C$21.50 in a research report on Tuesday, December 16th. BMO Capital Markets increased their price objective on shares of Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. TD Securities raised their target price on shares of Equinox Gold from C$21.00 to C$26.00 in a report on Thursday, January 22nd. National Bankshares reduced their price target on shares of Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, January 7th. Finally, Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$23.50.

Equinox Gold Trading Up 1.1%

The business’s fifty day moving average price is C$19.63 and its 200 day moving average price is C$15.41. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The firm has a market capitalization of C$17.57 billion, a PE ratio of 223.90 and a beta of 2.69.

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

Equinox Gold Company Profile

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.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development‐stage and advanced exploration properties across North and South America.