Analyzing Equinox Gold Corp. (EQX) By Technical Indicators

As of Wednesday close, Equinox Gold Corp.’s (AMEX:EQX) stock was down -$0.13, moving down -2.70 percent to $4.68. The average number of shares traded per day over the past five days has been 1,824,920 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.40 fall in that time frame. In the last twenty days, the average volume was 2,043,485, while in the previous 50 days, it was 2,523,046.

Since last month, EQX stock retreated -6.21%. Shares of the company fell to $4.66 on 05/24/23, the lowest level in the past month. A 52-week high of $6.38 was reached on 04/12/23 after having rallying from a 52-week low of $2.35. Since the beginning of this year, EQX’s stock price has risen by 42.68% or $1.40, and marked a new high 20 times. However, the stock has declined by -26.65% since its 52-week high.

Valuation Metrics

The stock’s beta is 0.97. Besides these, the trailing price-to-sales (P/S) ratio of 1.50, the price-to-book (PB) ratio of 0.61.

Financial Health

In the three months ended June 29, Equinox Gold Corp.’s quick ratio stood at 2.10, while its current ratio was 3.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.36. Based on annual data, EQX earned $84.97 million in gross profit and brought in $952.2 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Equinox Gold Corp. to report -$0.05 quarterly earnings, the actual figure was -$0.16 per share. During the quarter, the company generated $49.16 million in EBITDA. The liabilities of Equinox Gold Corp. were 1.64 billion at the end of its most recent quarter ended June 29, and its total debt was $854.32 million.

Technical Picture

This quick technical analysis looks at Equinox Gold Corp.’s (EQX) price momentum. With a historical volatility rate of 39.65%, the RSI 9-day stood at 29.46% on 24 May.

With respect to its five-day moving average, the current Equinox Gold Corp. price is down by -7.87% percent or -$0.40. At present, EQX shares trade -5.26% below its 20-day simple moving average and +43.12% percent above its 100-day simple moving average. However, the stock is currently trading approximately +11.96% above its SMA50 and +12.23% above its SMA200.

Stochastic coefficient K was 8.07% and Stochastic coefficient D was 11.30%, while ATR was 0.24. Given the Stochastic reading of 1.69% for the 14-day period, the RSI (14) reading has been calculated as 36.87%. As of today, the MACD Oscillator reading stands at -0.21, while the 14-day reading stands at -0.43.

Analyst Ratings

Equinox Gold Corp. (EQX) has been rated Hold by analysts. According to 2 brokerage firms, EQX is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Equinox Gold Corp. stock as buy, with 4 recommending it as overweight.

With a median target price of $5.89, the current consensus forecast for the stock is $3.63 – $7.70. Based on these forecasts, analysts predict Equinox Gold Corp. (EQX) will achieve an average price target of $5.56.

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