Equinox Gold (NYSEAMERICAN:EQX) Sets New 52-Week High – Here’s Why

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares hit a new 52-week high on Tuesday . The company traded as high as $15.16 and last traded at $14.9720, with a volume of 4416130 shares. The stock had previously closed at $14.24.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EQX. Zacks Research lowered shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating for the company. Cibc Captl Mkts downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Finally, Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Equinox Gold Stock Up 9.8%

The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 312.86 and a beta of 1.25. The business’s 50 day moving average is $13.85 and its 200-day moving average is $10.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 1.07.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The business’s revenue was up 91.2% compared to the same quarter last year. On average, sell-side analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in shares of Equinox Gold in the 2nd quarter valued at $25,000. SBI Securities Co. Ltd. grew its position in Equinox Gold by 2,054.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after acquiring an additional 4,479 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in Equinox Gold during the fourth quarter worth about $28,000. Lodestone Wealth Management LLC acquired a new stake in shares of Equinox Gold during the fourth quarter worth about $28,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of Equinox Gold in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.