Equinox Gold (TSE:EQX) Sets New 52-Week High After Analyst Upgrade

Equinox Gold Corp. (TSE:EQX) reached a new 52-week high during mid-day trading on Friday after National Bank Financial raised their price target on the stock from C$25.00 to C$26.00. National Bank Financial currently has an outperform rating on the stock. Equinox Gold traded as high as C$24.17 and last traded at C$23.03, with a volume of 1182099 shares. The stock had previously closed at C$23.25.

Several other brokerages also recently issued reports on EQX. TD Securities increased their price objective on shares of Equinox Gold from C$21.00 to C$26.00 in a research report on Thursday, January 22nd. Stifel Nicolaus upped their target price on shares of Equinox Gold from C$25.00 to C$31.00 in a research note on Tuesday, February 10th. Royal Bank Of Canada increased their target price on Equinox Gold from C$19.00 to C$25.00 in a report on Wednesday, December 10th. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Finally, Canadian Imperial Bank of Commerce downgraded Equinox Gold from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$31.00 to C$26.50 in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$25.07.

Equinox Gold Stock Down 0.9%

The stock has a market cap of C$18.08 billion, a P/E ratio of 230.40 and a beta of 2.32. The firm has a 50 day simple moving average of C$20.47 and a 200-day simple moving average of C$16.89. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65.

Equinox Gold (TSE:EQX) last posted its earnings results on Wednesday, February 18th. The company reported C$0.48 earnings per share for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%. On average, 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.