Equinox Gold (TSE:EQX) Reaches New 1-Year High After Analyst Upgrade

Equinox Gold Corp. (TSE:EQX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Stifel Canada upgraded the stock to a strong-buy rating. The stock traded as high as C$19.97 and last traded at C$19.32, with a volume of 815533 shares. The stock had previously closed at C$19.63.

A number of other equities analysts also recently issued reports on EQX. BMO Capital Markets increased their price target on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. CIBC upped their price objective on shares of Equinox Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Finally, Stifel Nicolaus set a C$24.00 price target on shares of Equinox Gold and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$22.40.

Insider Buying and Selling

In related news, Director Blayne Barry Johnson sold 105,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total transaction of C$1,565,550.00. Following the transaction, the director directly owned 1,706,616 shares in the company, valued at C$25,445,644.56. The trade was a 5.80% decrease in their position. Also, insider David Chester Schummer bought 9,100 shares of Equinox Gold stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of C$15.20 per share, for a total transaction of C$138,320.00. Following the completion of the transaction, the insider directly owned 168,222 shares in the company, valued at C$2,556,974.40. This represents a 5.72% increase in their ownership of the stock. Corporate insiders own 6.40% of the company’s stock.

Equinox Gold Price Performance

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 cap of C$15.09 billion, a PE ratio of 192.30 and a beta of 2.41. The stock has a 50 day moving average price of C$16.66 and a two-hundred day moving average price of C$12.37.

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

About Equinox Gold

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.