Equinox Gold Corp. (NYSEAMERICAN:EQX) Sees Significant Increase in Short Interest

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 16,920,000 shares, a growth of 9.7% from the December 15th total of 15,420,000 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average daily volume of 4,580,000 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Investors Weigh In On Equinox Gold

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Equinox Gold by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 26,460 shares of the company’s stock valued at $138,000 after purchasing an additional 3,528 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in shares of Equinox Gold by 20.4% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock worth $151,000 after acquiring an additional 4,198 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Equinox Gold by 30.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 21,559 shares of the company’s stock worth $113,000 after acquiring an additional 5,000 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in shares of Equinox Gold by 5.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 108,963 shares of the company’s stock worth $665,000 after acquiring an additional 5,418 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Equinox Gold in the 3rd quarter valued at approximately $43,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX traded down $0.02 during midday trading on Monday, reaching $5.84. The stock had a trading volume of 5,602,492 shares, compared to its average volume of 4,037,015. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 11.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. Equinox Gold has a 12-month low of $3.95 and a 12-month high of $6.50.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The firm had revenue of $428.40 million for the quarter, compared to analyst estimates of $437.84 million. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. On average, sell-side analysts expect that Equinox Gold will post 0.34 EPS for the current year.

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.