Equinox Gold (NYSEAMERICAN:EQX) Sets New 1-Year High – Here’s What Happened

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares hit a new 52-week high on Monday . The company traded as high as $17.07 and last traded at $16.9370, with a volume of 1581543 shares changing hands. The stock had previously closed at $16.19.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EQX shares. Stifel Nicolaus initiated coverage on Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research report on Monday. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Equinox Gold presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Performance

The firm has a market capitalization of $12.85 billion, a PE ratio of 328.39 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. The stock has a 50-day moving average price of $14.08 and a 200-day moving average price of $11.04.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data 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. The company had revenue of $819.01 million for the quarter, compared to the consensus estimate of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.Equinox Gold’s quarterly revenue was up 91.2% compared to the same quarter last year. On average, research analysts expect that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Rathbones Group PLC grew its position in shares of Equinox Gold by 1.7% in the 2nd quarter. Rathbones Group PLC now owns 109,993 shares of the company’s stock worth $633,000 after acquiring an additional 1,864 shares in the last quarter. Kohmann Bosshard Financial Services LLC grew its position in shares of Equinox Gold by 5.6% during the second quarter. Kohmann Bosshard Financial Services LLC now owns 38,000 shares of the company’s stock worth $218,000 after acquiring an additional 2,000 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Equinox Gold in the 4th quarter worth about $28,000. Aventura Private Wealth LLC bought a new stake in Equinox Gold in the 4th quarter valued at about $28,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Equinox Gold by 13.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,923 shares of the company’s stock valued at $103,000 after purchasing an additional 2,091 shares during the period. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Company Profile

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.