Equinox Gold (NYSEAMERICAN:EQX) Sees Unusually-High Trading Volume – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw an uptick in trading volume on Thursday . 7,118,640 shares changed hands during trading, an increase of 62% from the previous session’s volume of 4,382,402 shares.The stock last traded at $6.84 and had previously closed at $6.62.

Analyst Ratings Changes

Several research firms have recently weighed in on EQX. TD Securities upgraded Equinox Gold to a “hold” rating in a research report on Tuesday, February 4th. TD Cowen initiated coverage on Equinox Gold in a report on Tuesday, February 4th. They issued a “hold” rating and a $35.00 price objective on the stock.

Equinox Gold Trading Down 0.6 %

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’s fifty day moving average price is $6.15. The firm has a market cap of $3.07 billion, a P/E ratio of 12.48 and a beta of 1.33.

Institutional Trading of Equinox Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. raised its position in shares of Equinox Gold by 49.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company’s stock valued at $135,540,000 after buying an additional 8,949,544 shares during the period. Invesco Ltd. lifted its stake in shares of Equinox Gold by 41.3% in the 4th quarter. Invesco Ltd. now owns 9,029,240 shares of the company’s stock valued at $45,327,000 after purchasing an additional 2,640,109 shares during the last quarter. Maple Rock Capital Partners Inc. grew its holdings in shares of Equinox Gold by 34.4% during the 3rd 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. Phoenix Financial Ltd. acquired a new stake in shares of Equinox Gold during the 4th quarter worth about $11,044,000. Finally, Mackenzie Financial Corp raised its holdings in Equinox Gold by 42.6% in the 4th quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company’s stock valued at $35,260,000 after buying an additional 2,093,437 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

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.