Equinox Gold (NYSEAMERICAN:EQX) Sets New 1-Year High – Should You Buy?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) reached a new 52-week high on Tuesday . The stock traded as high as $15.16 and last traded at $14.7790, with a volume of 1952614 shares traded. The stock had previously closed at $14.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday. Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Stifel Nicolaus started coverage on Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating on the stock. Finally, Stifel Canada raised Equinox Gold to a “strong-buy” rating in a research note on Monday, December 1st. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Equinox Gold currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Stock Performance

The firm has a 50 day moving average of $13.70 and a 200-day moving average of $10.55. The company has a market cap of $11.44 billion, a P/E ratio of 291.26 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $819.01 million during the quarter, compared to analyst estimates of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The firm’s revenue for the quarter was up 91.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

Several large investors have recently modified their holdings of EQX. American Capital Advisory LLC bought a new position in shares of Equinox Gold during the second quarter valued at approximately $25,000. SBI Securities Co. Ltd. boosted its position in Equinox Gold by 2,054.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after acquiring an additional 4,479 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Equinox Gold in the 4th quarter worth $28,000. Lodestone Wealth Management LLC purchased a new position in Equinox Gold in the fourth quarter valued at about $28,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Equinox Gold during the fourth quarter valued at about $37,000. Institutional investors own 38.85% of the company’s stock.

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.