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

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 26,210,000 shares, an increase of 20.9% from the April 30th total of 21,680,000 shares. Based on an average daily volume of 11,920,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 6.6% of the company's stock are short sold.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors have recently bought and sold shares of EQX. Invst LLC bought a new position in Equinox Gold in the 1st quarter worth approximately $877,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Equinox Gold by 164.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company's stock worth $5,367,000 after acquiring an additional 485,567 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Equinox Gold by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company's stock valued at $12,812,000 after purchasing an additional 490,251 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Equinox Gold by 92.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 162,043 shares of the company's stock worth $1,115,000 after buying an additional 78,011 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Equinox Gold during the 1st quarter worth approximately $6,883,000. 38.85% of the stock is owned by institutional investors.

Equinox Gold Stock Performance

Equinox Gold stock traded up $0.11 during mid-day trading on Thursday, reaching $7.22. The company's stock had a trading volume of 16,525,723 shares, compared to its average volume of 6,533,595. The company has a market capitalization of $3.29 billion, a P/E ratio of 13.36 and a beta of 1.33. Equinox Gold has a 12-month low of $4.48 and a 12-month high of $7.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85. The firm's fifty day moving average price is $6.54 and its two-hundred day moving average price is $6.12.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.19). Equinox Gold had a net margin of 17.81% and a return on equity of 3.20%. The firm had revenue of $423.72 million for the quarter, compared to analysts' expectations of $404.00 million. During the same period last year, the company posted ($0.13) earnings per share. The business's revenue for the quarter was up 75.6% compared to the same quarter last year. Sell-side analysts predict that Equinox Gold will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, National Bank Financial upgraded shares of Equinox Gold to a "strong-buy" rating in a research note on Friday, March 21st.

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.