Equinox Gold Corp experiences decline amid market strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 01 2024
0mins
Should l Buy EQX?
Source: Coinmarketcap
Equinox Gold Corp's stock price fell by 5.18% as it crossed below the 5-day SMA, indicating a bearish trend. Despite the overall market strength, with the Nasdaq-100 and S&P 500 both showing gains, EQX's decline appears to be influenced by sector rotation rather than negative news specific to the company. Investors may be cautious as they assess the attractiveness of options strategies, such as the put option at a $12.50 strike, which offers a potential yield boost.
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Analyst Views on EQX
Wall Street analysts forecast EQX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EQX is 15.89 USD with a low forecast of 13.68 USD and a high forecast of 18.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 13.740
Low
13.68
Averages
15.89
High
18.00
Current: 13.740
Low
13.68
Averages
15.89
High
18.00
About EQX
Equinox Gold Corp. is a Canadian mining company. It is focused on the gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Its operating mines include Greenstone, Valentine, Mesquite, Nicaragua Ops: Libertad; Nicaragua Ops: Limon. Its growth projects include Castle Mountain Phase 2, and Los Filos Expansion. Greenstone is a multi-million-ounce gold project located in the top-tier mining jurisdiction of Ontario, Canada, approximately 275 km northeast of Thunder Bay in Geraldton, Ontario. Mesquite is an open pit, run-of-mine heap leach gold mine located in Imperial County, California, United States of America, approximately 200 miles south of its Castle Mountain Mine, 16 miles west of the state border with Arizona and 24 miles north of the border with Mexico. Libertad Mine and Mill is located approximately 110 km east of the capital of Managua. The Limon Mine & Mill is located in western Nicaragua.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Application of Technology: By integrating artificial intelligence with traditional exploration methods, Equinox Gold utilized VRIFY's AI exploration software DORA to identify the Minotaur Zone as a high-priority target, demonstrating the company's foresight in enhancing exploration success and accelerating value creation.
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