Equinox Gold (TSE:EQX) Sets New 52-Week High – Should You Buy?

Shares of Equinox Gold Corp. (TSE:EQX) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$19.00 and last traded at C$18.92, with a volume of 944480 shares. The stock had previously closed at C$18.06.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. CIBC lifted their target price on shares of Equinox Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. National Bankshares raised their price target on Equinox Gold from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. BMO Capital Markets boosted their price objective on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. Finally, Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, Equinox Gold currently has an average rating of “Buy” and a consensus target price of C$22.00.

Equinox Gold Trading Up 5.4%

The stock has a market capitalization of C$14.93 billion, a P/E ratio of 190.30 and a beta of 2.41. The stock has a 50-day moving average price of C$16.11 and a two-hundred day moving average price of C$11.93. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85.

Equinox Gold (TSE:EQX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported C$0.11 earnings per share for the quarter. The company had revenue of C$1.14 billion for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. On average, research analysts forecast that Equinox Gold Corp. will post 1.3865979 EPS for the current fiscal year.

Insider Buying and Selling at Equinox Gold

In related news, Director Blayne Barry Johnson sold 105,000 shares of Equinox Gold 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 approximately C$25,445,644.56. The trade was a 5.80% decrease in their ownership of the stock. Also, insider David Chester Schummer purchased 9,100 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was purchased at an average price of C$15.20 per share, with a total value of C$138,320.00. Following the completion of the transaction, the insider owned 168,222 shares of the company’s stock, valued at approximately C$2,556,974.40. This trade represents a 5.72% increase in their ownership of the stock. Corporate insiders own 6.40% of the company’s stock.

Equinox Gold Company Profile

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.