Equinox Gold Corp. (EQX): Here Are Some Research Recommendations

Equinox Gold Corp. (AMEX:EQX) trading with a subtraction of -$0.04 to $8.02 on Thursday, a downside of -0.50 percent. An average of 1,509,914 shares of common stock have been traded in the last five days. There was a gain of $0.70 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,400,563 shares traded, while the 50-day average volume stands at 1,436,049.

EQX stock has increased by 9.51% in the last month. The company shares reached their 1-month lowest point of $6.42 on 09/29/21. With the stock rallying to its 52-week high on 01/05/21, shares of the company touched a low of $5.90 and a high of $13.07 in 52 weeks. It has reached a new high 2 times so far this year and lost -22.05% or -$2.31 in price. In spite of this, the price is down -38.64% from the 52-week high.


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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 13.90 for the sector. In the last five years, Equinox Gold Corp.’s PE ratio has ranged between 186.17 and 4.075. The stock’s beta is 0.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.17, the price-to-book (PB) ratio at 0.81.

The quick ratio of Equinox Gold Corp. for the recent quarter was 2.40, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.24 and a total debt to equity ratio of 0.25 for the recent quarter. Equinox Gold Corp.’s EBITDA margin is 38.03%. Its gross profit as reported stood at $288.61 million compared to revenue of $842.51 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. Equinox Gold Corp.’s return on assets was -4.6% over the last five years. For the broader industry, ROE averaged -13.62 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Equinox Gold Corp. (EQX) price momentum. RSI 9-day as of the close on 13 October was 76.01%, suggesting the stock is Overbought, with historical volatility in this time frame at 36.65%.

As of today, EQX’s price is $7.67 +9.60% or $0.70 from its 5-day moving average. EQX is currently trading +13.00% higher than its 20-day SMA and -13.52% lower than its 100-day SMA. However, the stock’s current price level is +16.27% above the SMA50 and -22.08% below the SMA200.

The stochastic %K and %D were 94.42% and 88.85%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 91.70% and the average true range at 0.31, the RSI (14) stands at 69.24%. The stock has reached 0.51 on the 9-day MACD Oscillator while the 14-day reading was at 0.80.

Analyst Ratings

RBC Capital Mkts launched coverage on Equinox Gold Corp. (AMEX: EQX) in its analyst report released on June 02, 2021. The firm assigned the stock a a Sector perform rating.The consensus rating for Equinox Gold Corp. (EQX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EQX, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 9 others rate it as a “buy”.

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

Analysts predict a range of price targets between $7.80 and $15.91, with a median target of $11.63. Taking a look at these predictions, the average price target given by analysts for Equinox Gold Corp. (EQX) stock is $11.32.

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