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

Shares of 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 changing hands. The stock had previously closed at C$22.15.

Several other equities analysts have also commented on EQX. Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. CIBC downgraded shares of Equinox Gold from an “outperform” rating to a “neutral” rating and lowered their price target for the company from C$23.00 to C$21.50 in a report on Tuesday, December 16th. Cormark reduced their price objective on Equinox Gold from C$22.50 to C$21.00 in a research note 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. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$23.50.

Equinox Gold Price Performance

The stock has a 50 day moving average of C$19.73 and a 200-day moving average of C$15.52. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65. The stock has a market capitalization of C$17.95 billion, a P/E ratio of 228.70 and a beta of 2.69.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 EPS for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The company had revenue of C$1.14 billion for the quarter. On average, equities research analysts anticipate 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.