Equinox Gold (NYSEAMERICAN:EQX) Reaches New 12-Month High - Should You Buy?

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. National Bank Financial raised shares of Equinox Gold to a "strong-buy" rating in a research report on Friday, March 21st. TD Cowen started coverage on Equinox Gold in a research report on Tuesday, February 4th. They set a "hold" rating and a $35.00 target price for the company. Finally, TD Securities upgraded Equinox Gold to a "hold" rating in a research report on Tuesday, February 4th.

Equinox Gold Trading Up 0.3 %

The company's fifty day moving average price is $6.68 and its two-hundred day moving average price is $5.99. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 13.02 and a beta of 1.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EQX. Donald Smith & CO. Inc. lifted 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 valued at $135,540,000 after acquiring an additional 8,949,544 shares during the period. Invesco Ltd. boosted its stake in shares of Equinox Gold by 41.3% in the 4th quarter. Invesco Ltd. now owns 9,029,240 shares of the company's stock valued at $45,327,000 after purchasing an additional 2,640,109 shares during the last quarter. Phoenix Financial Ltd. acquired a new stake in shares of Equinox Gold during the 4th quarter worth approximately $11,044,000. Mackenzie Financial Corp raised its stake in shares of Equinox Gold by 42.6% during the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock worth $35,260,000 after buying an additional 2,093,437 shares during the last quarter. Finally, Helikon Investments Ltd acquired a new position in Equinox Gold in the fourth quarter valued at approximately $8,559,000. 38.85% of the stock is owned by 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.