Equinox Gold (NYSEAMERICAN:EQX) Shares Up 7.2% – Time to Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) shot up 7.2% during mid-day trading on Monday . The stock traded as high as $6.46 and last traded at $6.51. 4,951,311 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 6,902,599 shares. The stock had previously closed at $6.07.

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 stock has a market cap of $2.99 billion, a PE ratio of 13.41 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equinox Gold’s quarterly revenue was up 50.5% compared to the same quarter last year. On average, sell-side analysts expect that Equinox Gold Corp. will post 0.36 EPS for the current year.

Institutional Trading of Equinox Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake in Equinox Gold by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 537,896 shares of the company’s stock worth $2,703,000 after buying an additional 17,017 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Equinox Gold in the 4th quarter worth approximately $462,000. Choreo LLC purchased a new position in Equinox Gold in the 4th quarter worth approximately $63,000. Helikon Investments Ltd purchased a new position in Equinox Gold in the 4th quarter worth approximately $8,559,000. Finally, Southland Equity Partners LLC purchased a new position in Equinox Gold in the 4th quarter worth approximately $245,000. Institutional investors own 38.85% of the company’s stock.

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.