Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – Should You Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $5.82, but opened at $5.60. Equinox Gold shares last traded at $5.49, with a volume of 702,127 shares changing hands.

Equinox Gold Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85. The firm has a market cap of $2.37 billion, a P/E ratio of 10.61 and a beta of 1.31.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The company had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. The firm’s quarterly revenue was up 50.5% on a year-over-year basis. On average, equities research analysts anticipate that Equinox Gold Corp. will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently added to or reduced their stakes in EQX. Maple Rock Capital Partners Inc. purchased a new position in Equinox Gold in the 1st quarter worth $29,741,000. Donald Smith & CO. Inc. raised its position in Equinox Gold by 35.5% in the 3rd 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. Van ECK Associates Corp raised its position in Equinox Gold by 10.5% in the 2nd quarter. Van ECK Associates Corp now owns 38,166,859 shares of the company’s stock worth $199,609,000 after purchasing an additional 3,628,998 shares during the period. Mackenzie Financial Corp increased its position in shares of Equinox Gold by 54.6% in the second quarter. Mackenzie Financial Corp now owns 8,953,104 shares of the company’s stock valued at $46,732,000 after acquiring an additional 3,162,992 shares during the period. Finally, Gemsstock Ltd. purchased a new position in shares of Equinox Gold in the second quarter valued at about $13,045,000. 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.