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

Equinox Gold Corp. (NYSEAMERICAN:EQX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $17.65 and last traded at $17.3110, with a volume of 710450 shares. The stock had previously closed at $16.98.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EQX shares. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Stifel Nicolaus started coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Canadian Imperial Bank of Commerce downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Finally, Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Equinox Gold Stock Down 0.3%

The business’s 50 day moving average is $14.90 and its 200 day moving average is $12.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 1.07. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 70.55 and a beta of 1.24.

Equinox Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its stake in shares of Equinox Gold by 0.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock valued at $2,680,000 after purchasing an additional 795 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Equinox Gold by 3.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 30,247 shares of the company’s stock valued at $425,000 after buying an additional 940 shares during the last quarter. HighTower Advisors LLC increased its position in Equinox Gold by 8.3% in the fourth quarter. HighTower Advisors LLC now owns 13,067 shares of the company’s stock worth $183,000 after purchasing an additional 1,003 shares during the period. Stifel Financial Corp grew its position in shares of Equinox Gold by 14.0% during the 4th quarter. Stifel Financial Corp now owns 11,598 shares of the company’s stock worth $163,000 after buying an additional 1,427 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Equinox Gold during the 4th quarter valued at $25,000. 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.