Equinox Gold (NYSEAMERICAN:EQX) Hits New 12-Month High – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $7.37 and last traded at $7.22, with a volume of 3419694 shares traded. The stock had previously closed at $6.96.

Analyst Ratings Changes

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

Equinox Gold Price Performance

The company has a market cap of $3.29 billion, a PE ratio of 13.36 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85. The stock has a 50 day moving average of $6.64 and a 200-day moving average of $5.96.

Hedge Funds Weigh In On Equinox Gold

Several large investors have recently made changes to their positions in EQX. Stifel Financial Corp purchased a new stake in shares of Equinox Gold during the third quarter worth about $1,388,000. Wellington Management Group LLP purchased a new stake in shares of Equinox Gold in the 3rd quarter valued at approximately $5,570,000. XTX Topco Ltd acquired a new position in Equinox Gold in the third quarter valued at approximately $231,000. Y Intercept Hong Kong Ltd acquired a new stake in Equinox Gold during the third quarter worth $243,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Equinox Gold in the 3rd quarter valued at $815,000. 38.85% of the stock is currently 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.