Equinox Gold (NYSEAMERICAN:EQX) Reaches New 1-Year High – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $6.94 and last traded at $6.86, with a volume of 7144655 shares changing hands. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EQX. TD Cowen initiated coverage on Equinox Gold in a research report on Tuesday, February 4th. They set a “hold” rating and a $35.00 price target for the company. TD Securities upgraded shares of Equinox Gold to a “hold” rating in a research report on Tuesday, February 4th.

Equinox Gold Stock Up 4.3 %

The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 133.80 and a beta of 1.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EQX. Pictet Asset Management Holding SA grew its position 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 worth $308,000 after acquiring an additional 1,956 shares during the period. Kohmann Bosshard Financial Services LLC grew its holdings 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 worth $181,000 after purchasing an additional 3,450 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in shares of Equinox Gold by 20.4% during the 3rd 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. Harvest Portfolios Group Inc. increased its position in shares of Equinox Gold by 5.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 108,963 shares of the company’s stock worth $665,000 after purchasing an additional 5,418 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Equinox Gold by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 178,818 shares of the company’s stock valued at $911,000 after buying an additional 6,351 shares during the period. Institutional investors and hedge funds own 38.85% of the company’s stock.

About Equinox Gold

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.