Equinox Gold (NYSEAMERICAN:EQX) Reaches New 12-Month High – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.65 and last traded at $6.61, with a volume of 9575425 shares changing hands. The stock had previously closed at $6.57.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EQX. TD Cowen began coverage on Equinox Gold in a research note on Tuesday. They issued a “hold” rating and a $35.00 target price on the stock. TD Securities raised shares of Equinox Gold to a “hold” rating in a research report on Tuesday.

Equinox Gold Stock Performance

The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 121.40 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.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $428.40 million during the quarter, compared to analyst estimates of $437.84 million. Equinox Gold had a net margin of 19.83% and a return on equity of 0.69%. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. Equities research analysts predict that Equinox Gold Corp. will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Equinox Gold by 7.7% in the 3rd quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock worth $247,549,000 after purchasing an additional 2,954,174 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in Equinox Gold by 35.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock valued at $109,927,000 after purchasing an additional 4,727,570 shares during the period. Maple Rock Capital Partners Inc. boosted its position 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 buying an additional 2,349,000 shares during the period. National Bank of Canada FI raised its stake in Equinox Gold by 15.3% during 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 acquiring an additional 303,904 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new stake in Equinox Gold in the fourth quarter worth about $8,559,000. 38.85% of the stock is 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.