Equinox Gold (NYSEAMERICAN:EQX) Shares Down 7.9% – Here’s Why

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price fell 7.9% on Friday . The stock traded as low as $14.71 and last traded at $14.6550. 5,400,900 shares were traded during trading, a decline of 47% from the average session volume of 10,184,146 shares. The stock had previously closed at $15.92.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They issued a “buy” rating for the company. Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Equinox Gold currently has a consensus rating of “Buy” and an average target price of $17.00.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. The company has a 50-day moving average price of $15.82 and a 200-day moving average price of $13.33. The firm has a market capitalization of $11.49 billion, a P/E ratio of 60.71 and a beta of 1.20.

Equinox Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.015 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. Equinox Gold’s dividend payout ratio (DPR) is 11.11%.

Institutional Trading of Equinox Gold

A number of hedge funds have recently modified their holdings of EQX. Van ECK Associates Corp grew its holdings in Equinox Gold by 91.3% during the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after purchasing an additional 45,820,861 shares during the period. Vanguard Group Inc. raised its holdings in Equinox Gold by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after purchasing an additional 3,250,135 shares during the period. Donald Smith & CO. Inc. raised its holdings in Equinox Gold by 11.1% in the second quarter. Donald Smith & CO. Inc. now owns 26,507,615 shares of the company’s stock worth $152,419,000 after purchasing an additional 2,643,856 shares during the period. L1 Capital Pty Ltd boosted its position in shares of Equinox Gold by 120.4% during the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after purchasing an additional 13,060,846 shares in the last quarter. Finally, FIL Ltd acquired a new position in shares of Equinox Gold in the 4th quarter valued at $332,888,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.