Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down - Time to Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $6.72, but opened at $6.55. Equinox Gold shares last traded at $6.71, with a volume of 614,078 shares trading hands.

Wall Street Analyst Weigh In

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

Equinox Gold Price Performance

The business's 50-day simple moving average is $6.56 and its 200-day simple moving average is $6.09. The stock has a market cap of $2.99 billion, a PE ratio of 12.14 and a beta of 1.33. 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 announced its quarterly earnings results 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 17.81% and a return on equity of 3.20%. The company had revenue of $423.72 million for the quarter, compared to analysts' expectations of $404.00 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. Equinox Gold's quarterly revenue was up 75.6% compared to the same quarter last year. On average, research analysts expect that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors have recently made changes to their positions in the company. Veracity Capital LLC boosted its stake in shares of Equinox Gold by 14.2% during the 1st quarter. Veracity Capital LLC now owns 12,589 shares of the company's stock worth $87,000 after acquiring an additional 1,564 shares during the last quarter. Rathbones Group PLC raised its position in shares of Equinox Gold by 1.7% during the 1st quarter. Rathbones Group PLC now owns 108,129 shares of the company's stock valued at $743,000 after purchasing an additional 1,825 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Equinox Gold by 3.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 61,193 shares of the company's stock valued at $308,000 after acquiring an additional 1,956 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Equinox Gold by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 86,161 shares of the company's stock valued at $592,000 after acquiring an additional 1,990 shares during the last quarter. Finally, Continuum Advisory LLC increased its holdings in Equinox Gold by 53.3% in the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after acquiring an additional 2,620 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company's stock.

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.