Equinox Gold (TSE:EQX) Sets New 12-Month High – Here’s Why

Shares of Equinox Gold Corp. (TSE:EQX) reached a new 52-week high on Wednesday . The stock traded as high as C$18.44 and last traded at C$18.39, with a volume of 1520371 shares traded. The stock had previously closed at C$17.34.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Securities raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 16th. BMO Capital Markets boosted their price objective on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. National Bankshares lifted their price target on shares of Equinox Gold from C$19.00 to C$23.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Finally, Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of C$21.50.

Equinox Gold Price Performance

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$14.44 billion, a PE ratio of 184.00 and a beta of 2.41. The company’s 50-day simple moving average is C$15.36 and its 200-day simple moving average is C$11.32.

Insider Transactions at Equinox Gold

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 1,706,616 shares of the company’s stock, valued at approximately C$25,445,644.56. This trade represents a 5.80% decrease in their position. Also, insider David Chester Schummer bought 9,100 shares of the stock in a transaction on Thursday, September 11th. The stock was bought at an average price of C$15.20 per share, for a total transaction of C$138,320.00. Following the completion of the purchase, the insider directly owned 168,222 shares in the company, valued at approximately C$2,556,974.40. The trade was a 5.72% increase in their position. Company insiders own 6.40% of the company’s stock.

About Equinox Gold

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.