Equinox Gold (NYSEAMERICAN:EQX) Sees Strong Trading Volume - Should You Buy?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) saw unusually-high trading volume on Monday . Approximately 14,196,435 shares traded hands during trading, an increase of 124% from the previous session's volume of 6,349,156 shares.The stock last traded at $6.87 and had previously closed at $6.63.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Securities upgraded shares of Equinox Gold to a "hold" rating in a report on Tuesday, February 4th. TD Cowen assumed coverage on shares of Equinox Gold in a report on Tuesday, February 4th. They issued a "hold" rating and a $35.00 price target on the stock. Finally, National Bank Financial upgraded shares of Equinox Gold to a "strong-buy" rating in a report on Friday, March 21st.

Equinox Gold Stock Up 3.0%

The firm has a market capitalization of $3.24 billion, a P/E ratio of 13.17 and a beta of 1.33. 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 business'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 released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.19). The firm had revenue of $423.72 million during the quarter, compared to the consensus estimate of $404.00 million. Equinox Gold had a net margin of 17.81% and a return on equity of 3.20%. The firm's quarterly revenue was up 75.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Equities analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Equinox Gold

A number of institutional investors have recently bought and sold shares of EQX. Norges Bank acquired a new position in shares of Equinox Gold in the 4th quarter valued at $5,304,000. Vanguard Group Inc. grew its holdings in shares of Equinox Gold by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company's stock worth $69,626,000 after buying an additional 236,455 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Equinox Gold by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 931,677 shares of the company's stock worth $4,690,000 after buying an additional 17,886 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Equinox Gold during the fourth quarter worth $95,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Equinox Gold during the fourth quarter worth $462,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

About Equinox Gold

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.