Equinox Gold (NYSEAMERICAN:EQX) Trading Down 5.5% – Here’s What Happened

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) fell 5.5% on Friday . The stock traded as low as $14.06 and last traded at $13.7520. 1,502,931 shares traded hands during trading, a decline of 82% from the average session volume of 8,148,205 shares. The stock had previously closed at $14.56.

Analyst Upgrades and Downgrades

EQX has been the topic of several research analyst reports. Stifel Nicolaus began coverage on Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating on the stock. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Monday. Stifel Canada upgraded shares of Equinox Gold to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Cibc Captl Mkts downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $10.58. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 283.94 and a beta of 1.25.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $819.01 million during the quarter, compared to analysts’ expectations of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The business’s quarterly revenue was up 91.2% on a year-over-year basis. As a group, analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EQX. Rathbones Group PLC increased its position in Equinox Gold by 1.7% during the second quarter. Rathbones Group PLC now owns 109,993 shares of the company’s stock worth $633,000 after buying an additional 1,864 shares during the period. Kohmann Bosshard Financial Services LLC boosted its holdings in shares of Equinox Gold by 5.6% in the second quarter. Kohmann Bosshard Financial Services LLC now owns 38,000 shares of the company’s stock valued at $218,000 after acquiring an additional 2,000 shares during the period. Lodestone Wealth Management LLC purchased a new position in shares of Equinox Gold during the fourth quarter worth approximately $28,000. Aventura Private Wealth LLC acquired a new position in shares of Equinox Gold in the 4th quarter valued at $28,000. Finally, TD Waterhouse Canada Inc. raised its position in Equinox Gold by 13.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,923 shares of the company’s stock valued at $103,000 after purchasing an additional 2,091 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.