Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Up – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.69, but opened at $5.97. Equinox Gold shares last traded at $5.89, with a volume of 1,643,833 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Securities upgraded Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th. National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st. Finally, TD Cowen assumed coverage on shares of Equinox Gold in a research note on Tuesday, February 4th. They set a “hold” rating and a $35.00 price objective for the company.

Equinox Gold Stock Up 3.3 %

The company has a market cap of $2.68 billion, a price-to-earnings ratio of 10.88 and a beta of 1.33. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The business has a 50-day simple moving average of $6.55 and a two-hundred day simple moving average of $5.93.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. increased its stake in shares of Equinox Gold by 49.6% in 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 holdings in shares of Equinox Gold by 41.3% during 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 in the last quarter. Phoenix Financial Ltd. bought a new stake in Equinox Gold in the 4th quarter valued at $11,044,000. Mackenzie Financial Corp lifted its holdings in shares of Equinox Gold by 42.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company’s stock valued at $35,260,000 after purchasing an additional 2,093,437 shares in the last quarter. Finally, Helikon Investments Ltd acquired a new position in Equinox Gold during the 4th quarter worth approximately $8,559,000. 38.85% of the stock is owned by 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.