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 during trading on Tuesday after TD Securities raised their price target on the stock from C$20.00 to C$22.00. TD Securities currently has a buy rating on the stock. Equinox Gold traded as high as C$19.97 and last traded at C$19.32, with a volume of 815533 shares changing hands. The stock had previously closed at C$19.63.

EQX has been the subject of a number of other reports. National Bankshares increased 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 report on Wednesday, October 15th. CIBC upped their price objective on shares of Equinox Gold from C$22.00 to C$23.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. BMO Capital Markets increased their target price on shares of Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. Finally, Royal Bank Of Canada raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$22.40.

Insider Activity at Equinox Gold

In other Equinox Gold news, insider David Chester Schummer bought 9,100 shares of Equinox Gold stock in a transaction on Thursday, September 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at C$2,556,974.40. The trade was a 5.72% increase in their ownership of the stock. Also, Director Blayne Barry Johnson sold 105,000 shares of the business’s 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 C$25,445,644.56. This represents a 5.80% decrease in their ownership of the stock. 6.40% of the stock is currently owned by company insiders.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31. The stock has a market capitalization of C$15.31 billion, a P/E ratio of 195.10 and a beta of 2.41. The stock’s fifty day moving average is C$16.48 and its 200-day moving average is C$12.24.

Equinox Gold (TSE:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share 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 during the quarter. On average, equities analysts anticipate that Equinox Gold Corp. will post 1.3865979 earnings per share for the current year.

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.