Equinox Gold (NYSEAMERICAN:EQX) Reaches New 1-Year High – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.04 and last traded at $13.0750, with a volume of 6007950 shares changing hands. The stock had previously closed at $12.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Zacks Research lowered shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. CIBC reissued a “neutral” rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Cormark raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. Finally, TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Up 6.0%

The firm’s 50-day moving average price is $11.03 and its 200-day moving average price is $8.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 262.85 and a beta of 1.11.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. The firm had revenue of $819.01 million during the quarter, compared to analysts’ expectations of $607.81 million. Equinox Gold’s revenue for the quarter was up 91.2% on a year-over-year basis. Sell-side analysts forecast that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Equinox Gold

Several large investors have recently bought and sold shares of the company. American Capital Advisory LLC acquired a new position in shares of Equinox Gold during the second quarter worth $25,000. SBI Securities Co. Ltd. increased its stake in Equinox Gold by 2,054.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock worth $27,000 after buying an additional 4,479 shares during the period. ORG Partners LLC increased its stake in Equinox Gold by 191.2% during the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock worth $43,000 after buying an additional 4,970 shares during the period. Smithfield Trust Co acquired a new position in Equinox Gold in the 3rd quarter worth $43,000. Finally, Bernard Wealth Management Corp. purchased a new position in Equinox Gold in the 2nd quarter valued at about $58,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.