Equinox Gold (NYSEAMERICAN:EQX) Shares Down 4.8% - Here's What Happened

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

Wall Street Analyst Weigh In

EQX has been the subject of several research analyst reports. BMO Capital Markets started coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a research report on Friday, June 13th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Equinox Gold presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Stock Performance

The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.68 billion, a P/E ratio of 11.76 and a beta of 1.17. The company's 50-day moving average is $6.57 and its two-hundred day moving average is $6.18.

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 analysts' consensus estimates of $0.11 by ($0.19). The company had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The business's revenue was up 75.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.13) earnings per share. Equities analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Tobam bought a new stake in shares of Equinox Gold in the first quarter worth about $29,000. Parvin Asset Management LLC purchased a new stake in shares of Equinox Gold in the fourth quarter worth $38,000. BNP Paribas Financial Markets bought a new stake in Equinox Gold during the 4th quarter valued at about $47,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Equinox Gold in the fourth quarter worth about $50,000. Finally, Continuum Advisory LLC raised 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 worth $52,000 after buying an additional 2,620 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.