Equinox Gold (NYSEAMERICAN:EQX) Stock Price Down 8.2% - Time to Sell?

Key Points

• Equinox Gold shares slid about 8% intraday to roughly $12.32 (prev. close $13.42) on Thursday, with 6.18M shares traded—about 39% below average session volume.
• Analysts remain broadly positive: the consensus rating is Buy with an average price target of $17.00 (coverage includes 2 Strong Buy, 5 Buy and 1 Hold).
• Key fundamentals: market cap ~$9.65B, P/E ~51.1, low leverage (debt/equity 0.24), and a newly announced quarterly dividend of $0.015 (annual yield ~0.5%).

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report)'s stock price traded down 8.2% during mid-day trading on Thursday . The company traded as low as $12.03 and last traded at $12.3170. 6,183,491 shares were traded during mid-day trading, a decline of 39% from the average session volume of 10,103,681 shares. The stock had previously closed at $13.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EQX shares. Zacks Research raised shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 23rd. BMO Capital Markets reissued an "outperform" rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They issued a "buy" rating for the company. Finally, Scotiabank restated an "outperform" rating on shares of Equinox Gold in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $17.00.

Equinox Gold Trading Down 8.8%

The business has a 50 day moving average of $15.81 and a 200-day moving average of $13.46. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $9.65 billion, a P/E ratio of 51.10 and a beta of 1.20.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.015 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.5%. Equinox Gold's payout ratio is currently 11.11%.

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently modified their holdings of EQX. Mcguire Capital Advisors Inc. acquired a new position in shares of Equinox Gold during the 4th quarter worth approximately $25,000. Lodestone Wealth Management LLC acquired a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $28,000. Aventura Private Wealth LLC bought a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB bought a new position in Equinox Gold during the 4th quarter worth $37,000. Finally, Quarry LP lifted its position in shares of Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company's stock valued at $38,000 after acquiring an additional 2,098 shares during the period. 38.85% of the stock is owned by institutional investors.

About Equinox Gold

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold's operating portfolio spans three countries.

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