Equinox Gold (NYSEAMERICAN:EQX) Trading Down 4.8% - Should You Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) was down 4.8% during mid-day trading on Tuesday . The company traded as low as $5.78 and last traded at $5.83. Approximately 4,942,211 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 7,306,129 shares. The stock had previously closed at $6.12.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EQX shares. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research note on Friday, June 13th. BMO Capital Markets started coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research report on Friday, June 13th. Finally, National Bank Financial raised shares of Equinox Gold to a "strong-buy" rating in a report on Friday, March 21st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.50. The stock has a fifty day moving average price of $6.52 and a two-hundred day moving average price of $6.19. The company has a market cap of $2.59 billion, a P/E ratio of 11.35 and a beta of 1.17.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.19). Equinox Gold had a net margin of 13.96% and a return on equity of 2.20%. The company had revenue of $423.72 million during the quarter, compared to the consensus estimate of $404.00 million. During the same quarter last year, the business earned ($0.13) earnings per share. The company's revenue was up 75.6% on a year-over-year basis. On average, equities analysts forecast that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

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

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.