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

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price reached a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Stifel Canada raised Equinox Gold to a “strong-buy” rating in a research report on Monday, December 1st. Cibc Captl Mkts downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. Finally, Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Stock Up 9.8%

The firm has a 50-day moving average price of $13.85 and a two-hundred day moving average price of $10.76. The firm has a market cap of $12.29 billion, a price-to-earnings ratio of 312.86 and a beta of 1.25. 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 results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. On average, sell-side analysts forecast that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently bought and sold shares of EQX. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after buying an additional 7,229,260 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after buying an additional 390,000 shares during the last quarter. All Terrain Financial Advisors LLC acquired a new stake in shares of Equinox Gold in the second quarter valued at approximately $498,000. PKO Investment Management Joint Stock Co grew its position in shares of Equinox Gold by 50.6% during the second quarter. PKO Investment Management Joint Stock Co now owns 281,387 shares of the company’s stock worth $1,617,000 after acquiring an additional 94,500 shares during the last quarter. Finally, Ruffer LLP increased its holdings in shares of Equinox Gold by 322.1% in the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock valued at $43,267,000 after acquiring an additional 5,722,871 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

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.