Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 7.2% – Here’s Why

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price traded up 7.2% during trading on Monday . The company traded as high as $6.46 and last traded at $6.51. 4,951,311 shares were traded during mid-day trading, a decline of 28% from the average session volume of 6,902,599 shares. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

Separately, TD Cowen assumed coverage on Equinox Gold in a research report on Tuesday. They issued a “hold” rating and a $35.00 target price on the stock.

Equinox Gold Trading Up 0.8 %

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 firm has a market capitalization of $3.03 billion, a PE ratio of 13.59 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $428.40 million for the quarter, compared to analysts’ expectations of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The business’s revenue for the quarter was up 50.5% compared to the same quarter last year. Equities analysts predict 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 hedge funds have recently modified their holdings of EQX. Hobbs Group Advisors LLC purchased a new position in shares of Equinox Gold during the 3rd quarter worth approximately $43,000. Joel Isaacson & Co. LLC acquired a new stake in shares of Equinox Gold during the 3rd quarter valued at approximately $61,000. Veracity Capital LLC acquired a new position in Equinox Gold during the third quarter worth $61,000. Synovus Financial Corp purchased a new position in shares of Equinox Gold in the third quarter valued at $61,000. Finally, Choreo LLC purchased a new stake in shares of Equinox Gold in the 4th quarter worth about $63,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

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.