Equinox Gold (NYSEAMERICAN:EQX) Trading Down 3.5% - Here's What Happened

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report)'s share price traded down 3.5% during mid-day trading on Monday . The company traded as low as $6.20 and last traded at $6.22. 7,718,068 shares traded hands during trading, an increase of 9% from the average session volume of 7,058,165 shares. The stock had previously closed at $6.44.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research note on Friday. National Bank Financial raised Equinox Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, CIBC restated a "neutral" rating on shares of Equinox Gold in a research note on Friday. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Equinox Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Stock Performance

The company has a market capitalization of $2.89 billion, a PE ratio of 11.74 and a beta of 1.33. The firm has a 50-day moving average of $6.63 and a two-hundred day moving average of $6.17. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 3.20% and a net margin of 17.81%. The firm had revenue of $423.72 million for the quarter, compared to analyst estimates of $404.00 million. During the same period in the previous year, the business earned ($0.13) EPS. Equinox Gold's revenue for the quarter was up 75.6% compared to the same quarter last year. Research analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tobam purchased a new position in Equinox Gold in the first quarter valued at $29,000. Continuum Advisory LLC increased its holdings in Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after buying an additional 2,620 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Equinox Gold during the fourth quarter worth about $38,000. BNP Paribas Financial Markets purchased a new stake in shares of Equinox Gold during the fourth quarter worth about $47,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Equinox Gold during the fourth quarter worth about $50,000. Hedge funds and other 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.