Equinox Gold (NYSEAMERICAN:EQX) Shares Down 7.6% – Should You Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX) dropped 7.6% during trading on Monday . The stock traded as low as $12.52 and last traded at $12.5170. Approximately 3,897,044 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 9,953,215 shares. The stock had previously closed at $13.54.

Wall Street Analysts Forecast Growth

EQX has been the topic of several research reports. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Equinox Gold presently has an average rating of “Buy” and an average price target of $17.00.

Equinox Gold Stock Down 6.2%

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a fifty day simple moving average of $13.82 and a 200-day simple moving average of $14.50. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 15.84 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The company had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. As a group, sell-side analysts expect that Equinox Gold Corp. will post 1.27 EPS for the current year.

Equinox Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 21st will be given a $0.015 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 0.5%. Equinox Gold’s dividend payout ratio (DPR) is currently 11.11%.

Hedge Funds Weigh In On Equinox Gold

Hedge funds have recently made changes to their positions in the stock. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its stake in Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Equinox Gold during the fourth quarter worth approximately $28,000. Aventura Private Wealth LLC acquired a new stake in Equinox Gold during the fourth quarter worth approximately $28,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in Equinox Gold during the fourth quarter worth approximately $37,000. 38.85% of the stock is currently owned by institutional investors.

About Equinox Gold

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.