Equinox Gold Corp. has received a consensus rating of “Moderate Buy” from analysts following the company, according to a report from MarketBeat. This assessment comes from ten brokerage firms that have evaluated the company’s stock. Among these analysts, one has issued a sell recommendation, two have opted for a hold rating, five favor a buy recommendation, and two have given a strong buy rating.
The average target price for Equinox Gold’s stock over the next twelve months stands at $26.00. Recent analyst activity reflects a growing optimism about the company’s performance. For instance, Cormark upgraded Equinox Gold from a “hold” to a “moderate buy” rating in a report dated August 15, 2023. In a similar vein, Scotiabank elevated its rating from “hold” to “outperform” on November 6, 2023.
Further reinforcing positive sentiments, TD Securities maintained a “buy” rating on September 5, 2023. The Royal Bank of Canada also raised its rating from “sector perform” to “outperform” and increased its target price for Equinox Gold from $11.00 to $17.00 on September 10, 2023. Conversely, Zacks Research revised its outlook downward, changing its rating from “hold” to “strong sell” on October 15, 2023.
Equinox Gold Stock Performance
Trading opened at $12.75 on Friday, November 3, 2023. Over the past twelve months, the stock has recorded a low of $4.95 and a high of $13.53. The company’s market capitalization is approximately $10.01 billion, with a price-to-earnings ratio of 255.05 and a beta of 1.11. Financial ratios show a current ratio of 1.07, a quick ratio of 0.62, and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average is $11.25, while the 200-day moving average is $8.30.
Equinox Gold disclosed its quarterly earnings on November 5, 2023, reporting earnings per share of $0.19, exceeding analysts’ consensus estimates of $0.13 by $0.06. The company posted a net margin of 2.71% and a return on equity of 5.57%. Revenue reached $819.01 million for the quarter, significantly higher than the consensus estimate of $607.81 million, marking a year-over-year revenue increase of 91.2%. Analysts forecast that Equinox Gold will achieve earnings per share of $0.85 for the current fiscal year.
Company Overview
Equinox Gold Corp. focuses on the exploration, acquisition, development, and operation of mineral properties across the Americas. The company primarily explores gold and silver deposits. Its portfolio includes interests in properties located in California, USA; Guerrero State, Mexico; Maranhão, Bahia, and Minas Gerais states, Brazil; and Ontario, Canada.
As analysts continue to assess Equinox Gold’s performance, the mixed ratings reflect varying outlooks on the company’s growth potential, making it an interesting subject for investors and market watchers alike.
