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

Shares of Equinox Gold Corp. (TSE:EQX) hit a new 52-week high during trading on Wednesday . The company 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

Several research firms have weighed in on EQX. TD Securities upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 16th. National Bankshares upped their price objective on Equinox Gold from C$19.00 to C$23.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Royal Bank Of Canada raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 10th. BMO Capital Markets lifted their target price on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Finally, Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of C$21.50.

Equinox Gold Stock Up 6.1%

The business’s fifty day moving average is C$15.36 and its two-hundred day moving average is C$11.32. The stock has a market cap of C$14.44 billion, a price-to-earnings ratio of 184.00 and a beta of 2.41. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65.

Insider Buying and Selling at Equinox Gold

In other Equinox Gold news, insider David Chester Schummer purchased 9,100 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was acquired 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. Also, Director Blayne Barry Johnson sold 105,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$14.91, for a total value of C$1,565,550.00. Following the sale, the director directly owned 1,706,616 shares in the company, valued at C$25,445,644.56. This represents a 5.80% decrease in their position. Insiders own 6.40% of the company’s stock.

Equinox Gold Company Profile

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.