Equinox Gold Corp. [EQX] is -42.01% lower this YTD. Is it still time to buy?


Equinox Gold Corp. [AMEX: EQX] traded at a low on 07/14/22, posting a -7.11 loss after which it closed the day’ session at $3.92. The company report on May 31, 2022 that Equinox Gold Receives Regulatory Approval for Tailings Dam Lift at RDM Mine.

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Equinox Gold Corp. (TSX: EQX) (NYSE: EQX) announces that further to its press release dated May 16, 2022, approval for the tailings storage facility (“TSF”) raise at its RDM Mine in Brazil has been received. The TSF raise contractor is mobilizing equipment to begin the raise in early June.

Equinox Gold expects that full operations will resume by mid-July. Equinox Gold will update RDM guidance with its Q2 2022 disclosures in the first week of August.

The results of the trading session contributed to over 3104579 shares changing hands. Over the past one week, the price volatility of Equinox Gold Corp. stands at 6.29% while the volatility over the past one month is 6.24%.

The market cap for EQX stock reached $1.22 billion, with 302.23 million shares outstanding and 279.40 million shares in the current float. Compared to the average trading volume of 2.23M shares, EQX reached a trading volume of 3104579 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Equinox Gold Corp. [EQX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQX shares is $12.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Desjardins have made an estimate for Equinox Gold Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 26, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on June 02, 2021, representing the official price target for Equinox Gold Corp. stock.

The Average True Range (ATR) for Equinox Gold Corp. is set at 0.31, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 0.47, with the Price to Cash per share for the same quarter was set at 1.05.

How has EQX stock performed recently?

Equinox Gold Corp. [EQX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.11. With this latest performance, EQX shares dropped by -28.73% in over the last four-week period, additionally sinking by -41.84% over the last 6 months – not to mention a drop of -42.52% 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 29.22, with the RSI for the last a single of trading hit 27.07, and the three-weeks RSI is set at 31.22 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 5.40, while it was recorded at 4.16 for the last single week of trading, and 6.81 for the last 200 days.

Equinox Gold Corp. [EQX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Equinox Gold Corp. [EQX] shares currently have an operating margin of +14.20 and a Gross Margin at +19.69. Equinox Gold Corp.’s Net Margin is presently recorded at +51.27.

Return on Equity for this stock inclined to 27.23, with Return on Assets sitting at 16.53.

Equinox Gold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.80.

Insider trade positions for Equinox Gold Corp. [EQX]

There are presently around $405 million, or 44.00% 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 33,303,089, which is approximately 8.209% of the company’s market cap and around 11.83% of the total institutional ownership; VANGUARD GROUP INC, holding 8,215,014 shares of the stock with an approximate value of $34.67 million in EQX stocks shares; and SPROTT INC., currently with $24.7 million in EQX stock with ownership of nearly 12.199% of the company’s market capitalization.

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 85 institutional holders increased their position in Equinox Gold Corp. [AMEX:EQX] by around 12,109,802 shares. Additionally, 57 investors decreased positions by around 5,797,671 shares, while 40 investors held positions by with 78,150,471 shares. The mentioned changes placed institutional holdings at 96,057,944 shares, according to the latest SEC report filing. EQX stock had 22 new institutional investments in for a total of 2,286,771 shares, while 20 institutional investors sold positions of 1,289,828 shares during the same period.