Equinox Gold (TSE:EQX) Stock Price Up 0.4% - Time to Buy?

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.

Equinox Gold Corp. (TSE:EQX - Get Free Report) rose 0.4% during mid-day trading on Monday . The company traded as high as C$13.76 and last traded at C$13.59. Approximately 2,879,739 shares were traded 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.

Wall Street Analyst Weigh In

EQX has been the subject of a number of analyst reports. TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 16th. Cormark upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Equinox Gold has an average rating of "Buy" and a consensus target price of C$11.00.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31. The stock has a market capitalization of C$10.62 billion, a price-to-earnings ratio of -104.54 and a beta of 1.79. The stock's 50 day simple moving average is C$9.68 and its 200-day simple moving average is C$9.34.

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.

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