Equinox Gold (NYSEAMERICAN:EQX) Sets New 52-Week High – Time to Buy?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) reached a new 52-week high during trading on Monday . The stock traded as high as $17.07 and last traded at $16.9370, with a volume of 1581543 shares trading hands. The stock had previously closed at $16.19.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus began coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating for the company. Cibc Captl Mkts cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Monday. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Finally, Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.00.

Equinox Gold Stock Performance

The stock has a market cap of $12.85 billion, a PE ratio of 328.39 and a beta of 1.25. The firm’s 50-day moving average is $14.08 and its 200 day moving average is $11.04. 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 posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating 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 company had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. Equinox Gold’s quarterly revenue was up 91.2% on a year-over-year basis. As a group, research analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Equinox Gold

Several large investors have recently modified their holdings of EQX. American Capital Advisory LLC purchased a new position in Equinox Gold in the 2nd quarter valued at $25,000. SBI Securities Co. Ltd. raised its position 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 last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Equinox Gold in the 4th quarter worth $28,000. Lodestone Wealth Management LLC purchased a new stake in shares of Equinox Gold in the fourth quarter valued at about $28,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in shares of Equinox Gold during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

About Equinox Gold

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.