Equinox Gold (NYSEAMERICAN:EQX) Trading Down 4% - Here's What Happened

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) shares dropped 4% on Friday . The company traded as low as $7.02 and last traded at $7.01. Approximately 2,064,149 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 6,578,616 shares. The stock had previously closed at $7.31.

Analyst Ratings Changes

Separately, National Bank Financial raised Equinox Gold to a "strong-buy" rating in a research note on Friday, March 21st.

Equinox Gold Price Performance

The stock has a market capitalization of $3.16 billion, a PE ratio of 12.83 and a beta of 1.33. The firm's 50 day simple moving average is $6.56 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.19). The business had revenue of $423.72 million for the quarter, compared to analysts' expectations of $404.00 million. Equinox Gold had a return on equity of 3.20% and a net margin of 17.81%. The company's revenue was up 75.6% compared to the same quarter last year. During the same period last year, the business posted ($0.13) earnings per share. As a group, equities analysts forecast that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its position in Equinox Gold by 49.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company's stock valued at $135,540,000 after purchasing an additional 8,949,544 shares during the last quarter. L1 Capital Pty Ltd increased its position in Equinox Gold by 111.1% during the 1st quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock valued at $74,634,000 after purchasing an additional 5,710,310 shares during the period. Helikon Investments Ltd increased its position in Equinox Gold by 229.3% during the 1st quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock valued at $38,629,000 after purchasing an additional 3,909,705 shares during the period. Invesco Ltd. increased its position in Equinox Gold by 41.3% during the 4th quarter. Invesco Ltd. now owns 9,029,240 shares of the company's stock valued at $45,327,000 after purchasing an additional 2,640,109 shares during the period. Finally, Phoenix Financial Ltd. purchased a new position in Equinox Gold during the 4th quarter valued at $11,044,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

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.