Equinox Gold (NYSEAMERICAN:EQX) Trading Down 7.6% – Time to Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price was down 7.6% during trading on Monday . The company traded as low as $12.52 and last traded at $12.5170. Approximately 3,897,044 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 9,953,215 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EQX shares. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Stock Down 3.1%

The business’s 50 day moving average is $13.82 and its 200 day moving average is $14.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 15.14 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The company had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s quarterly revenue was up 224.3% compared to the same quarter last year. Equities analysts expect that Equinox Gold Corp. will post 1.27 earnings per share for the current year.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 21st will be given a $0.015 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a yield of 0.5%. Equinox Gold’s dividend payout ratio is presently 11.11%.

Institutional Investors Weigh In On Equinox Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQX. Mcguire Capital Advisors Inc. purchased a new stake in Equinox Gold in the 4th quarter worth approximately $25,000. Aventura Private Wealth LLC purchased a new stake in Equinox Gold in the 4th quarter worth approximately $28,000. Lodestone Wealth Management LLC purchased a new stake in Equinox Gold in the 4th quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after buying an additional 982 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in Equinox Gold in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.