Equinox Gold (NYSEAMERICAN:EQX) Shares Up 5.5% – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price rose 5.5% on Thursday . The company traded as high as $6.55 and last traded at $6.59. Approximately 3,857,568 shares changed hands during trading, a decline of 26% from the average daily volume of 5,189,330 shares. The stock had previously closed at $6.25.

Analyst Ratings Changes

EQX has been the subject of a number of recent analyst reports. National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a research report on Friday, March 21st. TD Cowen assumed coverage on Equinox Gold in a research report on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price for the company. Finally, TD Securities raised Equinox Gold to a “hold” rating in a report on Tuesday, February 4th.

Equinox Gold Trading Up 5.1 %

The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.11 billion, a P/E ratio of 12.63 and a beta of 1.33. The firm’s 50-day simple moving average is $6.61 and its 200-day simple moving average is $5.95.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in shares of Equinox Gold during the fourth quarter valued at about $38,000. BNP Paribas Financial Markets purchased a new position in shares of Equinox Gold in the fourth quarter valued at about $47,000. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Equinox Gold during the fourth quarter valued at about $50,000. Gamco Investors INC. ET AL purchased a new stake in shares of Equinox Gold during the fourth quarter worth about $56,000. Finally, Kiker Wealth Management LLC bought a new stake in shares of Equinox Gold in the fourth quarter worth about $58,000. 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.