Equinox Gold (NYSEAMERICAN:EQX) Reaches New 1-Year High - Here's What Happened

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $7.45 and last traded at $7.03, with a volume of 11743119 shares traded. The stock had previously closed at $7.01.

Wall Street Analyst Weigh In

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

Equinox Gold Stock Performance

The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 12.43 and a beta of 1.33. 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 firm has a fifty day simple moving average of $6.69 and a 200-day simple moving average of $6.02.

Hedge Funds Weigh In On Equinox Gold

Hedge funds have recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its holdings in Equinox Gold by 53.3% during the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after acquiring an additional 2,620 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Equinox Gold by 2.4% during 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. Builder Investment Group Inc. ADV increased its holdings in Equinox Gold by 2.3% in the first quarter. Builder Investment Group Inc. ADV now owns 1,063,984 shares of the company's stock valued at $7,320,000 after purchasing an additional 23,500 shares during the last quarter. Grimes & Company Inc. acquired a new position in Equinox Gold in the first quarter valued at about $147,000. Finally, Tobam acquired a new position in Equinox Gold in the first quarter valued at about $29,000. Institutional investors 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.