Equinox Gold Corp. (NYSEAMERICAN:EQX) Sees Large Decline in Short Interest

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 16,181,143 shares, a drop of 14.7% from the January 29th total of 18,965,604 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 11,811,331 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 11,811,331 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQX. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Stifel Nicolaus initiated coverage on Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Finally, Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Equinox Gold currently has an average rating of “Buy” and a consensus price target of $17.00.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group bought a new position in Equinox Gold in the 4th quarter worth about $246,000. Caitong International Asset Management Co. Ltd bought a new stake in Equinox Gold during the fourth quarter valued at $173,000. Virtu Financial LLC purchased a new position in Equinox Gold during the fourth quarter worth about $192,000. Mcguire Capital Advisors Inc. purchased a new position in Equinox Gold during the fourth quarter worth about $25,000. Finally, Vident Advisory LLC bought a new position in Equinox Gold in the 4th quarter worth about $1,176,000. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Trading Down 5.8%

EQX traded down $1.00 during trading on Thursday, reaching $16.15. 4,406,238 shares of the stock traded hands, compared to its average volume of 10,328,361. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average is $15.56 and its 200 day moving average is $12.93. Equinox Gold has a 12 month low of $5.59 and a 12 month high of $18.96. The stock has a market capitalization of $12.73 billion, a PE ratio of 67.29 and a beta of 1.20.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 annualized dividend and a yield of 0.4%.

Equinox Gold Company Profile

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.