Equinox Gold (NYSEAMERICAN:EQX) Sets New 1-Year High - Here's Why

Key Points

• Equinox Gold's stock reached a new 52-week high of $9.96 and has been performing strongly, with a reported increase of 77.7% in quarterly revenue compared to the previous year.
• Analysts have shown confidence in Equinox Gold, with most giving it ratings of "Moderate Buy" and a significant average price target of $35.00.
• Institutional investors currently own 38.85% of Equinox Gold's stock, indicating strong interest and confidence from large financial entities.

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $9.96 and last traded at $9.84, with a volume of 333652 shares changing hands. The stock had previously closed at $9.78.

Analysts Set New Price Targets

EQX has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating for the company. TD Securities reaffirmed a "buy" rating on shares of Equinox Gold in a report on Friday. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, Zacks Research raised Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Equinox Gold has an average rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Stock Up 0.4%

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53. The company has a market cap of $7.46 billion, a PE ratio of -163.39 and a beta of 1.11. The company has a fifty day moving average price of $6.96 and a 200 day moving average price of $6.71.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.09. The company had revenue of $478.64 million during the quarter, compared to the consensus estimate of $470.00 million. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.Equinox Gold's quarterly revenue was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Trading of Equinox Gold

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Veracity Capital LLC grew its stake in Equinox Gold by 14.2% in the first quarter. Veracity Capital LLC now owns 12,589 shares of the company's stock worth $87,000 after purchasing an additional 1,564 shares during the period. Rathbones Group PLC grew its stake in Equinox Gold by 1.7% in the first quarter. Rathbones Group PLC now owns 108,129 shares of the company's stock worth $743,000 after purchasing an additional 1,825 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Equinox Gold by 2.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 86,161 shares of the company's stock worth $592,000 after purchasing an additional 1,990 shares during the period. Kohmann Bosshard Financial Services LLC grew its stake in Equinox Gold by 5.6% in the second quarter. Kohmann Bosshard Financial Services LLC now owns 38,000 shares of the company's stock worth $218,000 after purchasing an additional 2,000 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in Equinox Gold by 13.2% in the second quarter. TD Waterhouse Canada Inc. now owns 17,923 shares of the company's stock worth $103,000 after purchasing an additional 2,091 shares during the period. Institutional investors own 38.85% of the company's stock.

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.

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