Equinox Gold (NYSEAMERICAN:EQX) Trading Up 6.6% – Time to Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) shares were up 6.6% during trading on Wednesday . The stock traded as high as $5.66 and last traded at $5.63. Approximately 1,432,104 shares were traded during trading, a decline of 68% from the average daily volume of 4,459,104 shares. The stock had previously closed at $5.28.

Equinox Gold Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.78 billion, a P/E ratio of 12.45 and a beta of 1.31.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Equinox Gold had a net margin of 19.83% and a return on equity of 0.69%. The business had revenue of $428.40 million during the quarter, compared to the consensus estimate of $437.84 million. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. On average, research analysts expect that Equinox Gold Corp. will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds and other institutional investors have recently modified their holdings of EQX. Van ECK Associates Corp boosted its stake in Equinox Gold by 7.7% in the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock valued at $247,549,000 after acquiring an additional 2,954,174 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in Equinox Gold by 35.5% in the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock valued at $109,927,000 after acquiring an additional 4,727,570 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Equinox Gold by 34.4% in the third quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock valued at $55,842,000 after acquiring an additional 2,349,000 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Equinox Gold by 54.6% in the second quarter. Mackenzie Financial Corp now owns 8,953,104 shares of the company’s stock valued at $46,732,000 after acquiring an additional 3,162,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Equinox Gold by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,805,581 shares of the company’s stock valued at $40,824,000 after acquiring an additional 597,182 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors.

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.