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

Shares of Equinox Gold Corp. (TSE:EQX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$21.33 and last traded at C$21.21, with a volume of 1716479 shares. The stock had previously closed at C$20.54.

Wall Street Analyst Weigh In

EQX has been the topic of several research reports. Stifel Canada upgraded shares of Equinox Gold to a “strong-buy” rating in a report on Monday, December 1st. Royal Bank Of Canada upped their price target on Equinox Gold from C$19.00 to C$25.00 in a report on Wednesday, December 10th. Cormark decreased their price objective on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Finally, BMO Capital Markets upped their target price on Equinox Gold from C$18.00 to C$20.00 in a research note on Thursday, November 6th. Three 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$22.79.

Equinox Gold Stock Up 5.3%

The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The business has a 50-day simple moving average of C$19.24 and a two-hundred day simple moving average of C$14.93. The stock has a market capitalization of C$16.97 billion, a P/E ratio of 216.30 and a beta of 2.69.

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