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Watching Equinox Gold Corp. (EQX) For Insider Activity

Equinox Gold Corp. (AMEX:EQX) traded with a subtraction of -$0.15 to $3.36 on Thursday, a downside of -4.42 percent. An average of 1,926,822 shares of…

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This article was originally published by Fosters Leader

Equinox Gold Corp. (AMEX:EQX) traded with a subtraction of -$0.15 to $3.36 on Thursday, a downside of -4.42 percent. An average of 1,926,822 shares of common stock have been traded in the last five days. There was a fall of -$0.13 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,524,461 shares traded, while the 50-day average volume stands at 2,111,414.

EQX stock has decreased by -15.83% in the last month. The company shares reached their 1-month lowest point of $3.18 on 09/08/22. With the stock rallying to its 52-week high on 04/18/22, shares of the company touched a low of $3.28 and a high of $9.07 in 52 weeks. It has reached a new high 17 times so far this year and lost -48.08% or -$3.40 in price. In spite of this, the price is down -63.01% from the 52-week high.

Valuation Metrics

Equinox Gold Corp. (EQX) has a trailing price-to-earnings (P/E) ratio of 14.62. The stock’s beta is 0.59. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.95, the price-to-book (PB) ratio at 0.34.

Financial Health

The quick ratio of Equinox Gold Corp. for the three months ended December 30 was 2.00, and the current ratio was 2.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.25 and a total debt to equity ratio of 0.26 for the quarter ending December 30. Its gross profit as reported stood at $230.59 million compared to revenue of $1.08 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Equinox Gold Corp.’s return on assets was 2.10%.

Earnings Surprise

The analyst consensus anticipated Equinox Gold Corp.’s latest quarter earnings to come in at $0.17 per share, but it turned out to be $0.22, a 29.40% surprise. For the quarter, EBITDA amounted to $33.9 million.

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 07 September was 35.59%, suggesting the stock is Neutral, with historical volatility in this time frame at 62.82%.

As of today, EQX’s price is $3.38 -3.75% or -$0.13 from its 5-day moving average. EQX is currently trading -22.60% lower than its 20-day SMA and -62.26% lower than its 100-day SMA. However, the stock’s current price level is -31.02% below the SMA50 and -58.22% below the SMA200.

The stochastic %K and %D were 19.41% and 16.16%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 21.85% and the average true range at 0.24, the RSI (14) stands at 36.14%. The stock has reached -0.09 on the 9-day MACD Oscillator while the 14-day reading was at -0.22.

Analyst Ratings

Desjardins downgraded Equinox Gold Corp. (AMEX: EQX) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Equinox Gold Corp. (EQX) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell EQX, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 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 $4.10 and $8.03, with a median target of $6.43. Taking a look at these predictions, the average price target given by analysts for Equinox Gold Corp. (EQX) stock is $6.42.

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