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

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cibc Captl Mkts lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Stifel Canada upgraded shares of Equinox Gold to a “strong-buy” rating in a research note on Monday, December 1st. Stifel Nicolaus started coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating for the company. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Equinox Gold Trading Up 2.0%

The stock’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $10.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 1.07. The firm has a market cap of $11.56 billion, a PE ratio of 294.54 and a beta of 1.25.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EQX. Maple Rock Capital Partners Inc. boosted its holdings in Equinox Gold by 102.1% in the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after acquiring an additional 7,229,260 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Equinox Gold by 70.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after buying an additional 390,000 shares during the period. All Terrain Financial Advisors LLC purchased a new stake in Equinox Gold in the second quarter worth about $498,000. PKO Investment Management Joint Stock Co boosted its position in Equinox Gold by 50.6% during the 2nd quarter. PKO Investment Management Joint Stock Co now owns 281,387 shares of the company’s stock valued at $1,617,000 after acquiring an additional 94,500 shares in the last quarter. Finally, Ruffer LLP grew its holdings in shares of Equinox Gold by 322.1% during the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock worth $43,267,000 after acquiring an additional 5,722,871 shares during the period. 38.85% of the stock is currently owned by institutional investors.

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.