Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – Time to Sell?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) gapped down prior to trading on Thursday . The stock had previously closed at $6.80, but opened at $6.42. Equinox Gold shares last traded at $6.94, with a volume of 1,486,559 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EQX shares. TD Cowen started coverage on shares of Equinox Gold in a research report on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price on the stock. TD Securities upgraded shares of Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th.

Equinox Gold Stock Down 4.7 %

The firm has a market capitalization of $3.11 billion, a P/E ratio of 12.63 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85.

Institutional Investors Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQX. National Bank of Canada FI lifted its position in Equinox Gold by 15.3% in the third quarter. National Bank of Canada FI now owns 2,288,413 shares of the company’s stock valued at $13,938,000 after buying an additional 303,904 shares during the last quarter. Stifel Financial Corp purchased a new stake in Equinox Gold during the third quarter worth about $1,388,000. Van ECK Associates Corp increased its stake in Equinox Gold by 7.7% during the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock worth $247,549,000 after purchasing an additional 2,954,174 shares during the period. Maple Rock Capital Partners Inc. increased its stake in Equinox Gold by 34.4% during the third quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock worth $55,842,000 after purchasing an additional 2,349,000 shares during the period. Finally, Donald Smith & CO. Inc. increased its stake in Equinox Gold by 35.5% during the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock worth $109,927,000 after purchasing an additional 4,727,570 shares during the period. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Company Profile

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.