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

Equinox Gold Corp. (TSE:EQX)’s share price 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 trading hands. The stock had previously closed at C$23.25.

Several other equities analysts have also recently issued reports on EQX. Canadian Imperial Bank of Commerce cut shares of Equinox Gold from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$31.00 to C$26.50 in a research note on Thursday, February 5th. Stifel Nicolaus upped their price objective on shares of Equinox Gold from C$25.00 to C$31.00 in a research report on Tuesday, February 10th. TD Securities increased their target price on shares of Equinox Gold from C$21.00 to C$26.00 in a research note on Thursday, January 22nd. Cormark reduced their price target on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. Finally, Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.07.

Equinox Gold Stock Down 0.9%

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$17.05. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Equinox Gold (TSE:EQX) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$0.48 EPS 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 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.