Equinox Gold (NYSEAMERICAN:EQX) Shares Up 5.5% – Here’s Why

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price rose 5.5% during mid-day trading on Thursday . The stock traded as high as $6.55 and last traded at $6.59. Approximately 3,857,568 shares changed hands during trading, a decline of 26% from the average daily volume of 5,189,330 shares. The stock had previously closed at $6.25.

Analyst Upgrades and Downgrades

EQX has been the topic of a number of research analyst reports. TD Securities raised shares of Equinox Gold to a “hold” rating in a research report on Tuesday, February 4th. National Bank Financial upgraded Equinox Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, TD Cowen assumed coverage on Equinox Gold in a report on Tuesday, February 4th. They issued a “hold” rating and a $35.00 target price for the company.

Equinox Gold Stock Performance

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 company’s 50 day moving average price is $6.61 and its 200-day moving average price is $5.95. The stock has a market cap of $3.11 billion, a P/E ratio of 12.63 and a beta of 1.33.

Institutional Trading of Equinox Gold

Hedge funds have recently added to or reduced their stakes in the stock. Veracity Capital LLC raised its stake in Equinox Gold by 14.2% in the 1st quarter. Veracity Capital LLC now owns 12,589 shares of the company’s stock valued at $87,000 after acquiring an additional 1,564 shares during the period. Pictet Asset Management Holding SA grew its stake in Equinox Gold by 3.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 61,193 shares of the company’s stock valued at $308,000 after buying an additional 1,956 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Equinox Gold by 16.3% during the 4th quarter. Wells Fargo & Company MN now owns 20,358 shares of the company’s stock valued at $102,000 after acquiring an additional 2,855 shares during the period. Kohmann Bosshard Financial Services LLC lifted its position in shares of Equinox Gold by 10.6% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 36,000 shares of the company’s stock worth $181,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Equinox Gold by 2.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock worth $691,000 after acquiring an additional 3,826 shares during the period. Institutional investors own 38.85% of the company’s stock.

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.