Equinox Gold (NYSEAMERICAN:EQX) Hits New 52-Week High – Time to Buy?

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

Analysts Set New Price Targets

Several brokerages recently weighed in on EQX. TD Cowen initiated coverage on Equinox Gold in a research note on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price on the stock. TD Securities raised Equinox Gold to a “hold” rating in a report on Tuesday, February 4th.

Equinox Gold Trading 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 stock has a market cap of $3.19 billion, a PE ratio of 133.80 and a beta of 1.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Equinox Gold in the third quarter valued at approximately $43,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Equinox Gold in the 4th quarter valued at $50,000. Kiker Wealth Management LLC purchased a new stake in Equinox Gold in the 4th quarter worth $58,000. Joel Isaacson & Co. LLC acquired a new position in Equinox Gold during the third quarter worth $61,000. Finally, Veracity Capital LLC purchased a new position in Equinox Gold during the third quarter valued at $61,000. Hedge funds and other 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.