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

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $7.22 and last traded at $7.16, with a volume of 11350103 shares changing hands. The stock had previously closed at $6.80.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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 for the company. TD Securities upgraded shares of Equinox Gold to a "hold" rating in a research note on Tuesday, February 4th.

Equinox Gold Stock Down 4.7 %

The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 12.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. lifted its holdings in Equinox Gold by 35.5% in the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company's stock worth $109,927,000 after acquiring an additional 4,727,570 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Equinox Gold by 7.7% during the 3rd quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company's stock worth $247,549,000 after purchasing an additional 2,954,174 shares during the period. Intact Investment Management Inc. lifted its holdings in shares of Equinox Gold by 70.3% in the 3rd quarter. Intact Investment Management Inc. now owns 188,000 shares of the company's stock worth $1,147,000 after purchasing an additional 77,600 shares during the last quarter. Harvest Portfolios Group Inc. boosted its position in Equinox Gold by 5.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 108,963 shares of the company's stock valued at $665,000 after purchasing an additional 5,418 shares during the period. Finally, Hollencrest Capital Management grew its stake in Equinox Gold by 12.4% during the 3rd quarter. Hollencrest Capital Management now owns 140,398 shares of the company's stock worth $855,000 after buying an additional 15,436 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company's stock.

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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.