Equinox Gold Corp. (NYSEAMERICAN:EQX) Sees Significant Drop in Short Interest

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 13,240,000 shares, a decrease of 7.3% from the March 15th total of 14,280,000 shares. Approximately 4.5% of the company’s shares are short sold. Based on an average trading volume of 2,340,000 shares, the short-interest ratio is currently 5.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of Equinox Gold by 39.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,755 shares of the company’s stock valued at $213,000 after acquiring an additional 7,250 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Equinox Gold by 52.0% in the 1st quarter. Bank of New York Mellon Corp now owns 16,657 shares of the company’s stock valued at $138,000 after buying an additional 5,701 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Equinox Gold by 4.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,641 shares of the company’s stock valued at $485,000 after buying an additional 2,669 shares during the period. HighTower Advisors LLC increased its stake in shares of Equinox Gold by 153.3% during the first quarter. HighTower Advisors LLC now owns 25,442 shares of the company’s stock worth $210,000 after buying an additional 15,396 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Equinox Gold by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 45,595 shares of the company’s stock valued at $377,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Desjardins raised shares of Equinox Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of Equinox Gold in a research report on Monday, April 8th.

Equinox Gold Stock Performance

EQX opened at $5.88 on Thursday. Equinox Gold has a 52 week low of $3.95 and a 52 week high of $6.50. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.94 billion, a PE ratio of 65.33 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, February 21st. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $297.80 million during the quarter. Equinox Gold had a return on equity of 0.69% and a net margin of 2.65%. On average, equities analysts forecast that Equinox Gold will post 0.12 EPS for the current year.

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.