Equinox Gold (NYSEAMERICAN:EQX) Hits New 12-Month High – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares hit a new 52-week high during trading on Friday . The company traded as high as $17.65 and last traded at $17.3110, with a volume of 710450 shares traded. The stock had previously closed at $16.98.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating on the stock. Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Equinox Gold Trading Down 1.0%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. The stock’s 50-day moving average is $14.94 and its two-hundred day moving average is $12.31. The stock has a market cap of $13.21 billion, a P/E ratio of 70.04 and a beta of 1.24.

Equinox Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.015 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ruffer LLP lifted its holdings in Equinox Gold by 15.4% during the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after buying an additional 1,152,288 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Equinox Gold in the third quarter valued at approximately $6,991,000. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 102.1% in the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after purchasing an additional 7,229,260 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after purchasing an additional 390,000 shares in the last quarter. Finally, All Terrain Financial Advisors LLC purchased a new position in Equinox Gold during the 2nd quarter worth $498,000. 38.85% of the stock is owned by institutional investors.

About Equinox Gold

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.