Equinox Gold (NYSEAMERICAN:EQX) Sets New 12-Month High – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $7.22 and last traded at $7.16, with a volume of 11350103 shares traded. The stock had previously closed at $6.80.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQX. TD Cowen assumed 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 raised shares of Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th.

Equinox Gold Stock Performance

The company has a market capitalization of $3.11 billion, a P/E ratio of 12.63 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33.

Institutional Trading of Equinox Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. Pictet Asset Management Holding SA increased its holdings in Equinox Gold by 3.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 61,193 shares of the company’s stock valued at $308,000 after buying an additional 1,956 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Equinox Gold by 16.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,358 shares of the company’s stock valued at $102,000 after acquiring an additional 2,855 shares during the last quarter. Kohmann Bosshard Financial Services LLC raised its position in shares of Equinox Gold by 10.6% during the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 36,000 shares of the company’s stock valued at $181,000 after acquiring an additional 3,450 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Equinox Gold by 2.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock valued at $691,000 after acquiring an additional 3,826 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its holdings in Equinox Gold by 20.4% in the third quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock worth $151,000 after purchasing an additional 4,198 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

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.