Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 3.4% – Time to Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares rose 3.4% on Tuesday . The company traded as high as $7.07 and last traded at $7.00. Approximately 1,032,710 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 4,615,100 shares. The stock had previously closed at $6.77.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EQX. TD Cowen started coverage on Equinox Gold in a report on Tuesday, February 4th. They set a “hold” rating and a $35.00 price objective on the stock. TD Securities upgraded Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th. Finally, National Bank Financial upgraded Equinox Gold to a “strong-buy” rating in a research note on Friday, March 21st.

Equinox Gold Stock Down 2.4 %

The company has a market capitalization of $3.11 billion, a PE ratio of 12.65 and a beta of 1.33. The company has a fifty day moving average price of $6.44. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its stake in shares of Equinox Gold by 49.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company’s stock worth $135,540,000 after acquiring an additional 8,949,544 shares during the period. Invesco Ltd. increased its position in Equinox Gold by 41.3% during the 4th quarter. Invesco Ltd. now owns 9,029,240 shares of the company’s stock worth $45,327,000 after purchasing an additional 2,640,109 shares during the period. Maple Rock Capital Partners Inc. raised its stake in shares of Equinox Gold by 34.4% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock worth $55,842,000 after buying an additional 2,349,000 shares in the last quarter. Phoenix Financial Ltd. purchased a new stake in shares of Equinox Gold during the 4th quarter worth $11,044,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Equinox Gold by 42.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company’s stock valued at $35,260,000 after purchasing an additional 2,093,437 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

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.