Equinox Gold (TSE:EQX) Trading Up 13.2% - What's Next?

Key Points

• Equinox Gold Corp. shares increased by 13.2% on Thursday, with trading volume reaching 3.38 million, significantly up from the average of 1.76 million shares.
• TD Securities upgraded Equinox Gold from a "hold" to a "strong-buy" rating, indicating positive future expectations for the company's stock.
• Equinox Gold is focused on growth, operating seven mines across the Americas and aiming for over one million ounces of annual gold production from its expansion projects.

Equinox Gold Corp. (TSE:EQX - Get Free Report) shot up 13.2% during trading on Thursday . The stock traded as high as C$10.75 and last traded at C$10.62. 3,383,861 shares traded hands during trading, an increase of 93% from the average session volume of 1,755,609 shares. The stock had previously closed at C$9.38.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Securities raised Equinox Gold from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 16th. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday.

Equinox Gold Trading Down 2.8%

The company has a market cap of C$3.45 billion, a P/E ratio of 11.36 and a beta of 1.16. The company has a quick ratio of 1.31, a current ratio of 0.85 and a debt-to-equity ratio of 45.65. The business has a 50-day moving average price of C$8.65 and a two-hundred day moving average price of C$9.10.

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.