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

Shares of Equinox Gold Corp. (TSE:EQX) reached a new 52-week high on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$19.00 to C$25.00. The company traded as high as C$19.97 and last traded at C$19.83, with a volume of 1757743 shares trading hands. The stock had previously closed at C$19.40.

Several other equities analysts have also recently weighed in on EQX. 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. Stifel Canada raised shares of Equinox Gold to a “strong-buy” rating in a research report on Monday, December 1st. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a report on Friday, November 7th. National Bankshares lifted their price target on Equinox Gold from C$23.00 to C$28.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Stifel Nicolaus set a C$24.00 price objective on Equinox Gold and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Three investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$23.67.

Insider Transactions at Equinox Gold

In other news, insider David Chester Schummer bought 9,100 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was bought at an average price of C$15.20 per share, with a total value of C$138,320.00. Following the completion of the acquisition, the insider owned 168,222 shares of the company’s stock, valued at C$2,556,974.40. This represents a 5.72% increase in their ownership of the stock. 6.40% of the stock is owned by company insiders.

Equinox Gold Stock Up 2.2%

The firm’s fifty day moving average is C$16.98 and its 200-day moving average is C$12.68. The company has a market capitalization of C$15.56 billion, a P/E ratio of 198.30 and a beta of 2.58. 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 posted its earnings results on Wednesday, November 5th. The company reported C$0.19 earnings per share for the quarter. The firm 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, equities research analysts predict that Equinox Gold Corp. will post 1.3865979 EPS for the current year.

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.