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

Equinox Gold Corp. (TSE:EQX)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$19.00 and last traded at C$18.92, with a volume of 944480 shares trading hands. The stock had previously closed at C$18.06.

Wall Street Analysts Forecast Growth

EQX has been the topic of several research analyst reports. Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Royal Bank Of Canada raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Wednesday, September 10th. CIBC lifted their price target on shares of Equinox Gold from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Cormark raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. Finally, Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$22.00.

Equinox Gold Trading Up 5.4%

The business’s 50-day moving average is C$16.11 and its two-hundred day moving average is C$11.93. The firm has a market cap of C$14.93 billion, a P/E ratio of 190.30 and a beta of 2.41. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.11 earnings per share (EPS) for the quarter. The business had revenue of C$1.14 billion for the quarter. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%. As a group, analysts predict that Equinox Gold Corp. will post 1.3865979 earnings per share for the current fiscal year.

Insider Activity

In other Equinox Gold news, Director Blayne Barry Johnson sold 105,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$14.91, for a total transaction of C$1,565,550.00. Following the sale, the director owned 1,706,616 shares of the company’s stock, valued at approximately C$25,445,644.56. This represents a 5.80% decrease in their ownership of the stock. Also, insider David Chester Schummer bought 9,100 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average price of C$15.20 per share, for a total transaction of C$138,320.00. Following the transaction, the insider directly owned 168,222 shares in the company, valued at C$2,556,974.40. This trade represents a 5.72% increase in their ownership of the stock. Corporate 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.