Looking To Buy Equinox Gold Corp. (EQX)? Read This First

Equinox Gold Corp. (AMEX:EQX) saw an upside of 4.95% to close Tuesday at $7.63 after adding $0.36 on the day. The 5-day average trading volume is 1,521,780 shares of the company’s common stock. It has gained $7.65 in the past week. An average of 1,362,845 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,415,610.

EQX’s 1-month performance is 5.53% or $0.87 on its low of $6.42 reached on 09/29/21. The company’s shares have touched a 52-week low of $5.90 and high of $13.07, with the stock’s rally to the 52-week high happening on 01/05/21. YTD, EQX has lost -26.21% or -$2.71. However, the current price is down -41.62%% from the 52-week high price.


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Valuation Metrics

Equinox Gold Corp. (EQX) has a trailing price-to-earnings (P/E) ratio of 20.90 for the broader industry and 13.51 for the sector. The company’s PE ratio for the last five years has touched a high of 186.17 and a low of 4.075. EQX stock has a beta of 0.25. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.00 while the price-to-book (PB) in the most recent quarter is 0.76.

Equinox Gold Corp.’s quick ratio for the recent quarter was 2.40, with the current ratio over the same period at 3.10 meaning that EQX stock is able to fulfill its debt obligations. The trailing 12-month EBITDA margin is 38.03%. The firm’s gross profit as reported stood at $288.61 million against revenue of $842.51 million.

Earnings Surprise

Net income and sales went down compared to those figures reported in the previous quarter. EBITDA for the quarter stood at more than $59.8 million. EQX stock balance sheet for the recent quarter shows that total liabilities totaled 1.36 billion, with total debt at $599.0 million

Technical Picture

Let’s look briefly at Equinox Gold Corp. (EQX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 70.24% to suggest the stock is trending Overbought, with historical volatility in this time period at 38.63%.

The stock’s 5-day moving average is $7.38, reflecting a +11.22% or $0.77 change from its current price. EQX is currently trading +3.67% above its 20-day SMA, -16.34% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +10.90% and -26.56% respectively.

Stochastic %K and %D was 84.07% and 85.27% and the average true range (ATR) pointed at 0.30. The RSI (14) points at 64.18%, while the 14-day stochastic is at 98.37% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at 0.36 and 0.51 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Equinox Gold Corp. (AMEX: EQX), RBC Capital Mkts launched coverage with a Sector perform rating. Analysts offering their rating for EQX stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate EQX as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.

What is EQX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $7.80 and a high of $15.91, with their median price target at $11.63. Looking at these predictions, the average price target given by analysts is for Equinox Gold Corp. (EQX) stock is $11.32.

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