Equinox Gold (NYSEAMERICAN:EQX) Stock Price Down 4% - Should You Sell?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) dropped 4% during mid-day trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial upgraded shares of Equinox Gold to a "strong-buy" rating in a report on Friday, March 21st.

Equinox Gold Stock Down 5.1%

The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The company's fifty day moving average is $6.56 and its 200-day moving average is $6.14. The company has a market cap of $3.16 billion, a PE ratio of 12.85 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its 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 return on equity of 3.20% and a net margin of 17.81%. The company had revenue of $423.72 million during the quarter, compared to analysts' expectations of $404.00 million. During the same quarter in the prior year, the business posted ($0.13) EPS. The company's revenue for the quarter was up 75.6% compared to the same quarter last year. On average, analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Equinox Gold in the fourth quarter worth approximately $5,304,000. Vanguard Group Inc. raised its position in Equinox Gold by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company's stock worth $69,626,000 after acquiring an additional 236,455 shares during the period. Cetera Investment Advisers bought a new position in Equinox Gold in the fourth quarter worth approximately $95,000. Charles Schwab Investment Management Inc. raised its position in Equinox Gold by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 931,677 shares of the company's stock worth $4,690,000 after acquiring an additional 17,886 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Equinox Gold in the fourth quarter worth approximately $462,000. 38.85% of the stock is currently owned by 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.