Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – Should You Sell?

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) gapped down before the market opened on Monday . The stock had previously closed at $5.82, but opened at $5.60. Equinox Gold shares last traded at $5.49, with a volume of 702,127 shares.

Equinox Gold Trading Down 9.1 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.45 and a current ratio of 1.10. The firm has a market cap of $2.41 billion, a P/E ratio of 116.40 and a beta of 1.31.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Equinox Gold had a net margin of 19.83% and a return on equity of 0.73%. The company had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. The firm’s revenue was up 50.5% on a year-over-year basis. On average, research analysts forecast that Equinox Gold Corp. will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Equinox Gold by 7.7% in the 3rd quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock worth $247,549,000 after buying an additional 2,954,174 shares during the period. Donald Smith & CO. Inc. increased its holdings in shares of Equinox Gold by 35.5% in the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock valued at $109,927,000 after purchasing an additional 4,727,570 shares during the period. Vanguard Group Inc. boosted its holdings in Equinox Gold by 9.9% in the first quarter. Vanguard Group Inc. now owns 10,519,078 shares of the company’s stock valued at $63,325,000 after purchasing an additional 943,855 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Equinox Gold by 54.6% in the second quarter. Mackenzie Financial Corp now owns 8,953,104 shares of the company’s stock valued at $46,732,000 after buying an additional 3,162,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Equinox Gold by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,805,581 shares of the company’s stock valued at $40,824,000 after acquiring an additional 597,182 shares during the period. Institutional investors own 38.85% of the company’s stock.

About Equinox Gold

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.