Equinox Gold (TSE:EQX) Hits New 1-Year High – Here’s What Happened

Equinox Gold Corp. (TSE:EQX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$21.03 and last traded at C$20.25, with a volume of 1530023 shares traded. The stock had previously closed at C$20.11.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EQX. Royal Bank Of Canada boosted their price objective on shares of Equinox Gold from C$19.00 to C$25.00 in a research report on Wednesday, December 10th. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Friday, November 7th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Finally, CIBC downgraded Equinox Gold from an “outperform” rating to a “neutral” rating and lowered their target price for the company from C$23.00 to C$21.50 in a research note on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$22.79.

Equinox Gold Trading Up 0.7%

The company has a market cap of C$15.89 billion, a price-to-earnings ratio of 202.50 and a beta of 2.69. The company’s 50 day moving average price is C$18.80 and its 200 day moving average price is C$14.50. The company has a debt-to-equity ratio of 45.65, a quick ratio of 1.31 and a current ratio of 0.85.

Equinox Gold (TSE:EQX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 earnings per share (EPS) for the quarter. The firm 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%. Research analysts anticipate that Equinox Gold Corp. will post 1.3865979 EPS for the current year.

About Equinox Gold

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.