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

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 traded. The stock had previously closed at C$22.15.

Several other research firms also recently weighed in on EQX. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. CIBC lowered shares of Equinox Gold from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$23.00 to C$21.50 in a research report on Tuesday, December 16th. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, National Bankshares reduced their price target on shares of Equinox Gold from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$23.50.

Equinox Gold Stock Up 1.1%

The firm has a market capitalization of C$17.57 billion, a PE ratio of 223.90 and a beta of 2.69. The business’s 50 day simple moving average is C$19.53 and its 200 day simple moving average is C$15.32. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65.

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