Equinox Gold Corp. (NYSEAMERICAN:EQX) Sees Large Increase in Short Interest

Key Points

• Equinox Gold Corp. experienced a significant **59.1% increase** in short interest in September, with a total of **38,090,000 shares** sold short as of September 30th.
• The company's stock price rose by **0.4%**, reaching **$11.05**, and it has a **market capitalization of $8.65 billion**.
• Equinox Gold's most recent quarterly earnings report indicated a **77.7% year-over-year revenue increase**, with earnings per share of **$0.11**, outperforming analysts' expectations.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 38,090,000 shares, an increase of 59.1% from the September 15th total of 23,940,000 shares. Based on an average trading volume of 15,580,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 5.2% of the company's stock are sold short. Approximately 5.2% of the company's stock are sold short. Based on an average trading volume of 15,580,000 shares, the days-to-cover ratio is currently 2.4 days.

Equinox Gold Stock Up 0.4%

NYSEAMERICAN EQX traded up $0.04 during trading hours on Wednesday, hitting $11.05. The company had a trading volume of 10,201,007 shares, compared to its average volume of 15,527,216. The firm's 50 day moving average is $10.19 and its 200 day moving average is $7.71. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of -184.14 and a beta of 1.14. Equinox Gold has a fifty-two week low of $4.95 and a fifty-two week high of $12.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $478.64 million for the quarter, compared to analysts' expectations of $470.00 million. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. The firm's quarterly revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Sell-side analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EQX has been the topic of a number of research analyst reports. Zacks Research cut Equinox Gold from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a report on Friday, August 15th. Cibc World Mkts raised shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 9th. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada raised shares of Equinox Gold from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $11.00 to $17.00 in a research report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EQX. Kercheville Advisors LLC acquired a new stake in shares of Equinox Gold during the 3rd quarter valued at approximately $112,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Equinox Gold by 70.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company's stock valued at $10,550,000 after buying an additional 390,000 shares during the period. KW Wealth Management LLC acquired a new stake in Equinox Gold during the third quarter worth about $114,000. Euro Pacific Asset Management LLC raised its stake in Equinox Gold by 28.3% during the third quarter. Euro Pacific Asset Management LLC now owns 1,761,429 shares of the company's stock worth $19,358,000 after acquiring an additional 388,523 shares during the period. Finally, Bernard Wealth Management Corp. lifted its holdings in Equinox Gold by 386.6% in the third quarter. Bernard Wealth Management Corp. now owns 49,334 shares of the company's stock worth $554,000 after acquiring an additional 39,195 shares during the last quarter. Institutional investors own 38.85% of the company's stock.

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.

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