Equinox Gold Corp. (NYSEAMERICAN:EQX) Short Interest Up 21.3% in April

Key Points

• Short interest rose 21.3% in April to 18,348,875 shares (about 2.5% of the stock), leaving a days-to-cover ratio of 2.2 based on average daily volume.
• EQX opened at $13.44 with a market capitalization of $10.61 billion, a P/E of 56.00, and a 52‑week range of $5.61 to $18.96 (50-day/200-day SMAs: $15.15 / $14.20).
• Equinox pays a quarterly dividend of $0.015 ($0.06 annualized, 0.4% yield, 11.11% payout ratio); analysts have a consensus Buy rating (average target $17) and institutional investors own 38.85% of the shares, with several funds recently increasing positions.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 18,348,875 shares, a growth of 21.3% from the March 31st total of 15,124,493 shares. Approximately 2.5% of the company's stock are short sold. Based on an average daily trading volume, of 8,417,174 shares, the days-to-cover ratio is presently 2.2 days.

Equinox Gold Stock Performance

Shares of EQX opened at $13.44 on Thursday. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 56.00 and a beta of 1.33. Equinox Gold has a 12 month low of $5.61 and a 12 month high of $18.96. The firm has a fifty day simple moving average of $15.15 and a 200 day simple moving average of $14.20. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24.

Equinox Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a dividend of $0.015 per share. The ex-dividend date was Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. Equinox Gold's dividend payout ratio is currently 11.11%.

Hedge Funds Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EQX. Integrated Advisors Network LLC increased its stake in shares of Equinox Gold by 1.2% during the 1st quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company's stock worth $1,346,000 after purchasing an additional 1,075 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in Equinox Gold in the 1st quarter valued at about $513,000. Moran Wealth Management LLC grew its holdings in Equinox Gold by 31.0% during the first quarter. Moran Wealth Management LLC now owns 199,158 shares of the company's stock worth $2,867,000 after purchasing an additional 47,120 shares during the period. Louisbourg Investments Inc. increased its position in Equinox Gold by 8.8% during the first quarter. Louisbourg Investments Inc. now owns 375,900 shares of the company's stock worth $5,418,000 after buying an additional 30,300 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in Equinox Gold by 11.1% during the first quarter. Pictet Asset Management Holding SA now owns 149,962 shares of the company's stock worth $2,159,000 after buying an additional 15,001 shares during the last quarter. 38.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQX has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Zacks Research cut Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 22nd. Finally, Scotiabank reissued an "outperform" rating on shares of Equinox Gold in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $17.00.

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.

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