Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 3.4% – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price traded up 3.4% during mid-day trading on Tuesday . The company traded as high as $7.07 and last traded at $7.00. 1,032,710 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,615,100 shares. The stock had previously closed at $6.77.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st. TD Cowen assumed coverage on Equinox Gold in a research note on Tuesday, February 4th. They set a “hold” rating and a $35.00 price target on the stock. Finally, TD Securities raised Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th.

Equinox Gold Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 12.65 and a beta of 1.33. The company’s 50 day moving average is $6.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Equinox Gold by 212.9% in the third quarter. The Manufacturers Life Insurance Company now owns 932,050 shares of the company’s stock valued at $5,681,000 after acquiring an additional 634,210 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Equinox Gold in the 3rd quarter valued at $684,000. Northwest & Ethical Investments L.P. lifted its position in shares of Equinox Gold by 20.4% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock worth $151,000 after purchasing an additional 4,198 shares during the last quarter. Maple Rock Capital Partners Inc. grew its stake in shares of Equinox Gold by 34.4% during the third 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 in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Equinox Gold in the third quarter valued at $1,343,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

About Equinox Gold

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.