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

Equinox Gold Corp. (TSE:EQX) shares reached a new 52-week high on Friday after National Bank Financial raised their price target on the stock from C$25.00 to C$26.00. National Bank Financial currently has an outperform rating on the stock. Equinox Gold traded as high as C$24.17 and last traded at C$23.03, with a volume of 1182099 shares. The stock had previously closed at C$23.25.

Several other research firms have also issued reports on EQX. TD Securities increased their price target on shares of Equinox Gold from C$21.00 to C$26.00 in a research report on Thursday, January 22nd. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Stifel Nicolaus lifted their price target on Equinox Gold from C$25.00 to C$31.00 in a research note on Tuesday, February 10th. Canadian Imperial Bank of Commerce cut Equinox Gold from an “outperform” rating to a “hold” rating and lowered their price target for the stock from C$31.00 to C$26.50 in a report on Thursday, February 5th. Finally, Royal Bank Of Canada upped their price objective on Equinox Gold from C$19.00 to C$25.00 in a research report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$25.07.

Equinox Gold Trading Down 0.9%

The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85. The firm has a market cap of C$18.08 billion, a price-to-earnings ratio of 230.40 and a beta of 2.32. The business has a fifty day simple moving average of C$20.53 and a 200-day simple moving average of C$16.99.

Equinox Gold (TSE:EQX) last released its quarterly earnings results on Wednesday, February 18th. The company reported C$0.48 earnings per share for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. As a group, equities analysts forecast that Equinox Gold Corp. will post 1.3865979 earnings per share 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.

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.