Equinox Gold (TSE:EQX) Hits New 1-Year High – Here’s What Happened

Equinox Gold Corp. (TSE:EQX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$21.03 and last traded at C$20.25, with a volume of 1530023 shares traded. The stock had previously closed at C$20.11.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EQX shares. Stifel Nicolaus set a C$24.00 price target on shares of Equinox Gold and gave the company a “buy” rating in a research report on Tuesday, December 2nd. TD Securities lifted their target price on shares of Equinox Gold from C$20.00 to C$22.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. National Bankshares cut their target price on shares of Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research report on Wednesday, January 7th. Cormark lowered their price target on Equinox Gold from C$22.50 to C$21.00 in a research report on Tuesday, December 16th. Finally, CIBC lowered Equinox Gold from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from C$23.00 to C$21.50 in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$22.79.

Equinox Gold Stock Up 0.7%

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 company has a market capitalization of C$15.89 billion, a price-to-earnings ratio of 202.50 and a beta of 2.69. The firm’s 50-day simple moving average is C$18.80 and its 200-day simple moving average is C$14.50.

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 net margin of 19.82% and a return on equity of 8.67%. The business had revenue of C$1.14 billion during the quarter. Sell-side analysts forecast that Equinox Gold Corp. will post 1.3865979 earnings per share for the current 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.