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Equinox Gold (TSE:EQX) Stock Price Up 0.4% - Should You Buy?

Equinox Gold logo with Basic Materials background

Key Points

  • Equinox Gold's stock price increased by 0.4% to C$13.59, with trading volume up 53% from average levels, indicating increased investor interest.
  • Analysts have upgraded Equinox Gold's stock ratings, with TD Securities moving it from a "hold" to a "strong-buy", and the consensus rating now stands at "Buy" with a target price of C$11.00.
  • The company boasts a market capitalization of C$10.62 billion and operates seven mines, aiming to exceed one million ounces of annual gold production.
  • MarketBeat previews the top five stocks to own by November 1st.

Equinox Gold Corp. (TSE:EQX - Get Free Report) shares rose 0.4% during trading on Monday . The stock traded as high as C$13.76 and last traded at C$13.59. Approximately 2,879,739 shares traded hands during mid-day trading, an increase of 53% from the average daily volume of 1,882,710 shares. The stock had previously closed at C$13.53.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. Royal Bank Of Canada upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Wednesday. Finally, TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Check Out Our Latest Report on EQX

Equinox Gold Stock Down 2.9%

The stock's 50 day simple moving average is C$10.22 and its two-hundred day simple moving average is C$9.49. The firm has a market cap of C$11.50 billion, a P/E ratio of -113.15 and a beta of 1.79. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Insider Activity at Equinox Gold

In other news, Director Blayne Barry Johnson sold 105,000 shares of the stock in a transaction that occurred 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 in the company, valued at C$25,445,644.56. This represents a 5.80% decrease in their ownership of the stock. 6.40% of the stock is currently owned by insiders.

About Equinox Gold

(Get Free Report)

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.

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