Equinox Gold (TSE:EQX) Stock Breaks Above 50 Day Moving Average – Time to Sell?

Equinox Gold Corp. (TSE:EQX)’s share price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$16.08 and traded as high as C$16.30. Equinox Gold shares last traded at C$16.24, with a volume of 3,331,369 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQX. Scotiabank raised Equinox Gold to a “strong-buy” rating in a report on Friday, August 7th. TD set a C$20.00 price objective on Equinox Gold and gave the company a “buy” rating in a research report on Tuesday, October 20th. Finally, Canadian Imperial Bank of Commerce lowered their price objective on Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$25.14.

Equinox Gold Stock Up 2.7%

The firm’s 50 day simple moving average is C$16.08 and its 200 day simple moving average is C$17.57. The company has a market cap of C$18.96 billion, a price-to-earnings ratio of 15.04 and a beta of 3.51. The company has a quick ratio of 1.31, a current ratio of 1.33 and a debt-to-equity ratio of 9.15.

Equinox Gold (TSE:EQX) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$0.21 earnings per share for the quarter. The company had revenue of C$1.09 billion for the quarter. Equinox Gold had a return on equity of 13.85% and a net margin of 26.36%. Sell-side analysts anticipate that Equinox Gold Corp. will post 1.39 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were given a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 annualized dividend and a yield of 0.6%. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. Equinox Gold’s payout ratio is 2.78%.

About Equinox Gold

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices.

Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap?leach and carbon?in?leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development?stage and advanced exploration properties across North and South America.