Are You Considering Equinox Gold Corp. (EQX) As Part Of Your Portfolio?

The stock of Equinox Gold Corp. (AMEX:EQX) increased by $0.3 on Tuesday to finish at $3.58, up 9.15 percent. The last five days have seen an average of 2,316,160 shares of common stock traded. The average number of shares traded over the last 20 days was 2,175,430, while the average volume over the last 50 days totaled 2,439,024.

EQX stock dropped -7.97% since last month. On 12/30/22, the company’s shares reached a one-month low of $3.21. The stock touched a high of $9.07 on 01/03/23, after rallying from a low of $2.35 in 52 weeks. The price of EQX stock has risen by 9.15%. Still, the stock price is down -60.53% from the 52-week high.

Valuation Metrics

Equinox Gold Corp. (EQX) has a trailing price-to-earnings (P/E) ratio of 2.49. Beta for the stock is 0.51. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.37, the price-to-book (PB) ratio of 0.35.

Financial Health

For the three months ended June 29, Equinox Gold Corp.’s quick ratio was -0.10, while its current ratio was 2.70, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.32, and the total debt to equity ratio is 0.32. Based on annual data, it had gross profit of $230.59 million and revenue of $1.08 billion.

Earnings Surprise

According to Equinox Gold Corp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Equinox Gold Corp.’s quarterly earnings would be -$0.16, but it ended up being -$0.05. EBITDA was $36.54 million for the quarter. At the end of Equinox Gold Corp.’s most recent quarter ended June 29, its liabilities totaled 1.38 billion, while its total debt was $670.03 million.

Technical Picture

Here’s a quick look at Equinox Gold Corp.’s (EQX) price momentum from a technical perspective. As of 03 January, the RSI 9-day stood at 55.34%, suggesting the stock is Neutral, with a 69.54% historical volatility rate.

The stochastic %K and %D were 24.46% and 12.03% respectively, while the average true range (ATR) was 0.21. Based on the 14-day stochastic reading of 53.24%, the RSI (14) reading is 52.89%. On the 9-day MACD Oscillator, the stock is at -0.09, and the 14-day reading is at -0.12.

Analyst Ratings

Equinox Gold Corp. (AMEX: EQX) was downgraded by RBC Capital Mkts to a an Underperform rating in its latest research report. The stock was previously rated as a a Sector perform. Analysts have assigned Equinox Gold Corp. (EQX) an Overweight rating. EQX is a stock that is recommended for selling by 1 brokerage firm, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.

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

The current consensus forecast for the stock is between $3.10 and $6.61, with a median target price of $3.98. In analyzing these forecasts, the average price target given by analysts for Equinox Gold Corp. (EQX) is $4.27.

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