Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Up – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.48, but opened at $6.61. Equinox Gold shares last traded at $6.41, with a volume of 922,691 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on EQX shares. TD Cowen started coverage on shares of Equinox Gold in a research note on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price on the stock. TD Securities upgraded Equinox Gold to a “hold” rating in a research report on Tuesday, February 4th.

Equinox Gold Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85. The stock has a market capitalization of $2.90 billion, a P/E ratio of 11.77 and a beta of 1.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EQX. Donald Smith & CO. Inc. lifted its stake 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 worth $135,540,000 after acquiring an additional 8,949,544 shares during the period. Vanguard Group Inc. raised its holdings in Equinox Gold by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company’s stock worth $69,626,000 after purchasing an additional 236,455 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its position in shares of 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 worth $55,842,000 after purchasing an additional 2,349,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Equinox Gold by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,160,605 shares of the company’s stock valued at $45,985,000 after purchasing an additional 750,300 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Equinox Gold by 41.3% in 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 during the last quarter. 38.85% of the stock is 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.