Equinox Gold (NYSEAMERICAN:EQX) Reaches New 1-Year High – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $6.94 and last traded at $6.86, with a volume of 7144655 shares. The stock had previously closed at $6.63.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EQX shares. TD Cowen assumed coverage on Equinox Gold in a report on Tuesday, February 4th. They issued a “hold” rating and a $35.00 price target for the company. TD Securities upgraded shares of Equinox Gold to a “hold” rating in a research report on Tuesday, February 4th.

Equinox Gold Price Performance

The stock has a market cap of $3.13 billion, a P/E ratio of 14.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85.

Institutional Investors Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQX. Van ECK Associates Corp increased its holdings in Equinox Gold by 7.7% during the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock worth $247,549,000 after buying an additional 2,954,174 shares during the last quarter. Donald Smith & CO. Inc. grew its position in shares of Equinox Gold by 35.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock valued at $109,927,000 after acquiring an additional 4,727,570 shares during the period. Maple Rock Capital Partners Inc. increased its stake in shares of Equinox Gold by 34.4% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock worth $55,842,000 after purchasing an additional 2,349,000 shares during the last quarter. Amundi raised its holdings in shares of Equinox Gold by 19.7% in the 4th quarter. Amundi now owns 2,885,004 shares of the company’s stock valued at $14,483,000 after purchasing an additional 474,361 shares during the period. Finally, National Bank of Canada FI lifted its stake in Equinox Gold by 15.3% in the 3rd quarter. National Bank of Canada FI now owns 2,288,413 shares of the company’s stock valued at $13,938,000 after purchasing an additional 303,904 shares during the last quarter. 38.85% of the stock is owned by institutional investors.

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.