Equinox Gold (NYSEAMERICAN:EQX) Sets New 52-Week High – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.45 and last traded at $7.03, with a volume of 11743119 shares traded. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EQX shares. TD Securities raised Equinox Gold to a “hold” rating in a report on Tuesday, February 4th. TD Cowen started coverage on shares of Equinox Gold in a research report on Tuesday, February 4th. They set a “hold” rating and a $35.00 price target on the stock. Finally, National Bank Financial raised shares of Equinox Gold to a “strong-buy” rating in a research note on Friday, March 21st.

Equinox Gold Stock 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 stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.02 and a beta of 1.33. The stock has a 50-day moving average of $6.69 and a 200 day moving average of $6.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Equinox Gold in the fourth quarter worth about $5,304,000. Vanguard Group Inc. lifted its holdings in Equinox Gold by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company’s stock worth $69,626,000 after purchasing an additional 236,455 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Equinox Gold by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 931,677 shares of the company’s stock valued at $4,690,000 after buying an additional 17,886 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Equinox Gold during the third quarter worth $1,227,000. Finally, Helikon Investments Ltd bought a new stake in shares of Equinox Gold during the fourth quarter worth $8,559,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Company Profile

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.