Equinox Gold Corp. (NYSEAMERICAN:EQX) Short Interest Down 14.7% in February

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 16,181,143 shares, a decline of 14.7% from the January 29th total of 18,965,604 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average daily volume of 11,811,331 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 11,811,331 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQX. Royal Bank of Canada boosted its stake in shares of Equinox Gold by 232.7% during the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after acquiring an additional 390,690 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Equinox Gold in the 1st quarter valued at about $6,883,000. Goldman Sachs Group Inc. raised its holdings in Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after purchasing an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Equinox Gold by 164.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock worth $5,367,000 after purchasing an additional 485,567 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new stake in Equinox Gold in the second quarter valued at approximately $25,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Stifel Nicolaus started coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.00.

Equinox Gold Stock Down 4.3%

Shares of EQX stock opened at $16.42 on Friday. The stock has a 50 day moving average of $15.59 and a 200 day moving average of $12.96. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a market cap of $12.94 billion, a P/E ratio of 68.42 and a beta of 1.20. Equinox Gold has a twelve month low of $5.59 and a twelve month high of $18.96.

Equinox Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%.

Equinox Gold Company Profile

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.