Equinox Gold Corp. [EQX] is -51.48% lower this YTD. Is it still time to buy?

Equinox Gold Corp. [AMEX: EQX] loss -6.02% on the last trading session, reaching $3.28 price per share at the time. The company report on August 3, 2022 that Equinox Gold Reports Second Quarter 2022 Financial and Operating Results.

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all financial figures are in US dollars, unless otherwise indicated.

Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce its second quarter 2022 summary financial and operating results. The Company’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis for the three and six months ended June 30, 2022 will be available for download on SEDAR, on EDGAR and on the Company’s website. The Company will host a conference call and webcast on August 4, 2022 commencing at 7:30 am Vancouver time to discuss the Company’s second quarter results and activities underway at the Company’s projects. Further details are provided at the end of this news release.

Equinox Gold Corp. represents 303.69 million in outstanding shares, while the company has a total market value of $1.06 billion with the latest information. EQX stock price has been found in the range of $3.28 to $3.45.

If compared to the average trading volume of 2.09M shares, EQX reached a trading volume of 2571125 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $6.75 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 0.23, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 0.98. The Price to Book ratio for the last quarter was 0.42, with the Price to Cash per share for the same quarter was set at 0.80.

Trading performance analysis for EQX stock

Equinox Gold Corp. [EQX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.17. With this latest performance, EQX shares dropped by -24.25% in over the last four-week period, additionally sinking by -57.57% over the last 6 months – not to mention a drop of -54.95% 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 28.19, with the RSI for the last a single of trading hit 21.72, and the three-weeks RSI is set at 31.91 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 4.20, while it was recorded at 3.55 for the last single week of trading, and 6.20 for the last 200 days.

Equinox Gold Corp. [EQX]: A deeper dive into fundamental analysis

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 2.00 and a Current Ratio set at 2.90.

An analysis of insider ownership at Equinox Gold Corp. [EQX]

There are presently around $307 million, or 45.40% 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 32,638,152, which is approximately -1.997% of the company’s market cap and around 8.04% of the total institutional ownership; VANGUARD GROUP INC, holding 8,433,858 shares of the stock with an approximate value of $27.66 million in EQX stocks shares; and SPROTT INC., currently with $19.87 million in EQX stock with ownership of nearly 3.5% 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 56 institutional holders increased their position in Equinox Gold Corp. [AMEX:EQX] by around 5,444,817 shares. Additionally, 88 investors decreased positions by around 8,198,459 shares, while 33 investors held positions by with 80,005,599 shares. The mentioned changes placed institutional holdings at 93,648,875 shares, according to the latest SEC report filing. EQX stock had 12 new institutional investments in for a total of 222,789 shares, while 33 institutional investors sold positions of 2,895,149 shares during the same period.


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