Equinox Gold (NYSEAMERICAN:EQX) Shares Up 3.4% – Here’s What Happened

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price rose 3.4% on Tuesday . The company traded as high as $7.07 and last traded at $7.00. Approximately 1,032,710 shares changed hands during trading, a decline of 78% from the average daily volume of 4,615,100 shares. The stock had previously closed at $6.77.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EQX. National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a research report on Friday. TD Securities upgraded Equinox Gold to a “hold” rating in a report on Tuesday, February 4th. Finally, TD Cowen began coverage on Equinox Gold in a report on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price for the company.

Equinox Gold Price Performance

The business’s 50 day moving average is $6.37. The firm has a market cap of $3.19 billion, a PE ratio of 12.98 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in shares of Equinox Gold by 49.6% in the fourth quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company’s stock valued at $135,540,000 after purchasing an additional 8,949,544 shares during the last quarter. Vanguard Group Inc. boosted its stake in Equinox Gold by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company’s stock valued at $69,626,000 after purchasing an additional 236,455 shares during the period. Maple Rock Capital Partners Inc. grew its holdings in Equinox Gold by 34.4% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock valued at $55,842,000 after buying an additional 2,349,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Equinox Gold by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,160,605 shares of the company’s stock worth $45,985,000 after buying an additional 750,300 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Equinox Gold by 41.3% during the fourth quarter. Invesco Ltd. now owns 9,029,240 shares of the company’s stock worth $45,327,000 after buying an additional 2,640,109 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.