Equinox Gold (NYSEAMERICAN:EQX) Reaches New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

Separately, TD Cowen assumed coverage on Equinox Gold in a research report on Tuesday. They set a “hold” rating and a $35.00 target price on the stock.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. The company has a market cap of $3.01 billion, a P/E ratio of 13.49 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. Research analysts predict that Equinox Gold Corp. will post 0.36 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

Several institutional investors have recently bought and sold shares of the stock. Northwest & Ethical Investments L.P. increased its holdings in shares of Equinox Gold by 20.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock worth $151,000 after buying an additional 4,198 shares in the last quarter. Harvest Portfolios Group Inc. increased its holdings in Equinox Gold by 5.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 108,963 shares of the company’s stock valued at $665,000 after purchasing an additional 5,418 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Equinox Gold in the 3rd quarter valued at $43,000. Joel Isaacson & Co. LLC acquired a new position in Equinox Gold in the third quarter worth $61,000. Finally, Synovus Financial Corp bought a new stake in shares of Equinox Gold during the third quarter worth $61,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.