Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – Should You Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.01, but opened at $14.46. Equinox Gold shares last traded at $14.8690, with a volume of 1,609,475 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EQX shares. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Finally, Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Price Performance

The firm has a 50-day moving average of $14.45 and a 200-day moving average of $11.35. The stock has a market cap of $11.23 billion, a PE ratio of 286.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $819.01 million for the quarter, compared to analysts’ expectations of $607.81 million. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. The business’s revenue was up 91.2% on a year-over-year basis. Research analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. American Capital Advisory LLC purchased a new stake in shares of Equinox Gold in the 2nd quarter worth $25,000. SBI Securities Co. Ltd. raised its holdings in Equinox Gold by 2,054.6% in the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock worth $27,000 after purchasing an additional 4,479 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Equinox Gold during the 4th quarter worth approximately $28,000. Lodestone Wealth Management LLC acquired a new position in shares of Equinox Gold during the fourth quarter worth $28,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in Equinox Gold in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.