Equinox Gold (TSE:EQX) Sets New 52-Week High – Should You Buy?

Equinox Gold Corp. (TSE:EQX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$21.33 and last traded at C$21.21, with a volume of 1716479 shares traded. The stock had previously closed at C$20.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EQX. CIBC lowered shares of Equinox Gold from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$23.00 to C$21.50 in a report on Tuesday, December 16th. Stifel Canada raised Equinox Gold to a “strong-buy” rating in a research note on Monday, December 1st. TD Securities increased their price target on Equinox Gold from C$20.00 to C$22.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Cormark dropped their price target on Equinox Gold from C$22.50 to C$21.00 in a research report on Tuesday, December 16th. Finally, Royal Bank Of Canada boosted their price objective on Equinox Gold from C$19.00 to C$25.00 in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$22.79.

Equinox Gold Stock Up 5.3%

The firm’s 50 day simple moving average is C$19.24 and its 200-day simple moving average is C$14.93. The company has a current ratio of 0.85, a quick ratio of 1.31 and a debt-to-equity ratio of 45.65. The stock has a market capitalization of C$16.97 billion, a price-to-earnings ratio of 216.30 and a beta of 2.69.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.19 earnings per share for the quarter. Equinox Gold had a return on equity of 8.67% and a net margin of 19.82%.The company had revenue of C$1.14 billion during the quarter. Equities analysts expect 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.