Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $16.01, but opened at $14.46. Equinox Gold shares last traded at $14.8690, with a volume of 1,609,475 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EQX shares. Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research report on Tuesday. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Monday. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus assumed coverage on Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Down 8.3%

The business has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $11.26. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a market cap of $11.54 billion, a P/E ratio of 294.48 and a beta of 1.25.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business 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% compared to the same quarter last year. Analysts expect that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Trading of Equinox Gold

Several large investors have recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new stake in shares of Equinox Gold during the fourth quarter worth $28,000. Aventura Private Wealth LLC acquired a new position in shares of Equinox Gold during the 4th quarter worth about $28,000. MassMutual Private Wealth & Trust FSB acquired a new position in Equinox Gold during the fourth quarter valued at approximately $37,000. WealthCollab LLC increased its position in shares of Equinox Gold by 352.8% in the 4th quarter. WealthCollab LLC now owns 3,337 shares of the company’s stock valued at $47,000 after buying an additional 2,600 shares in the last quarter. Finally, Smithfield Trust Co bought a new stake in shares of Equinox Gold in the third quarter worth about $43,000. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Company Profile

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.