RBC Capital Mkts slashes price target on Equinox Gold Corp. [EQX] – find out why.

Equinox Gold Corp. [AMEX: EQX] closed the trading session at $6.92 on 07/06/21. The day’s price range saw the stock hit a low of $6.89, while the highest price level was $7.21. The company report on June 29, 2021 that Equinox Gold Begins Mining at Santa Luz, Construction on Track to Pour First Gold in Q1 2022.

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All dollar amounts are in United States dollars.

Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that mining activities are underway at its new Santa Luz Gold Mine in Brazil (“Santa Luz”). Construction remains on track to commence commissioning in Q4 2021 and pour gold in Q1 2022, with the expectation of producing 110,000 ounces of gold annually for the first five years of operations.

The stocks have a year to date performance of -33.08 percent and weekly performance of -1.98 percent. The stock has been moved at -37.66 percent over the last six months. The stock has performed -22.51 percent around the most recent 30 days and changed -19.35 percent over the most recent 3-months.

If compared to the average trading volume of 1.58M shares, EQX reached to a volume of 2077889 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Equinox Gold Corp. [EQX]:

RBC Capital Mkts have made an estimate for Equinox Gold Corp. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on June 02, 2021.

The Average True Range (ATR) for Equinox Gold Corp. is set at 0.29, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 2.18. The Price to Book ratio for the last quarter was 1.12.

EQX stock trade performance evaluation

Equinox Gold Corp. [EQX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.98. With this latest performance, EQX shares dropped by -22.51% in over the last four-week period, additionally sinking by -37.66% over the last 6 months – not to mention a drop of -38.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQX stock in for the last two-week period is set at 27.27, with the RSI for the last a single of trading hit 22.41, and the three-weeks RSI is set at 31.83 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 8.41, while it was recorded at 6.93 for the last single week of trading, and 9.64 for the last 200 days.

Equinox Gold Corp. [EQX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Equinox Gold Corp. [EQX] shares currently have an operating margin of +22.33 and a Gross Margin at +32.77. Equinox Gold Corp.’s Net Margin is presently recorded at +2.46.

Return on Total Capital for EQX is now 14.72, given the latest momentum, and Return on Invested Capital for the company is 1.67. Return on Equity for this stock inclined to 2.35, with Return on Assets sitting at 1.24. When it comes to the capital structure of this company, Equinox Gold Corp. [EQX] has a Total Debt to Total Equity ratio set at 38.99. Additionally, EQX Total Debt to Total Capital is recorded at 28.05, with Total Debt to Total Assets ending up at 21.11. Long-Term Debt to Equity for the company is recorded at 37.45, with the Long-Term Debt to Total Capital now at 26.94.

Receivables Turnover for the company is 21.18 with a Total Asset Turnover recorded at a value of 0.50.Equinox Gold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.30.

Equinox Gold Corp. [EQX]: Insider Ownership positions

There are presently around $493 million, or 35.40% of EQX stock, in the hands of institutional investors. The top three institutional holders of EQX stocks are: VAN ECK ASSOCIATES CORP with ownership of 27,472,413, which is approximately -8.134% of the company’s market cap and around 12.82% of the total institutional ownership; VANGUARD GROUP INC, holding 5,663,138 shares of the stock with an approximate value of $39.19 million in EQX stocks shares; and DONALD SMITH & CO., INC., currently with $31.03 million in EQX stock with ownership of nearly -1.492% of the company’s market capitalization.

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Positions in Equinox Gold Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 70 institutional holders increased their position in Equinox Gold Corp. [AMEX:EQX] by around 7,509,902 shares. Additionally, 67 investors decreased positions by around 10,044,102 shares, while 23 investors held positions by with 53,731,420 shares. The mentioned changes placed institutional holdings at 71,285,424 shares, according to the latest SEC report filing. EQX stock had 24 new institutional investments in for a total of 3,091,356 shares, while 22 institutional investors sold positions of 3,488,643 shares during the same period.

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