Equinox Gold (NYSEAMERICAN:EQX) Shares Down 8.2% – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX) fell 8.2% during mid-day trading on Thursday . The stock traded as low as $12.03 and last traded at $12.3170. 6,183,491 shares traded hands during trading, a decline of 39% from the average session volume of 10,103,681 shares. The stock had previously closed at $13.42.

Analyst Ratings Changes

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

Equinox Gold Price Performance

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 has a market cap of $9.45 billion, a PE ratio of 49.96 and a beta of 1.20. The business’s 50-day simple moving average is $15.72 and its 200-day simple moving average is $13.47.

Equinox Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, March 12th. Equinox Gold’s payout ratio is presently 11.11%.

Institutional Trading of Equinox Gold

Large investors have recently bought and sold shares of the company. Purpose Unlimited Inc. purchased a new position in shares of Equinox Gold in the 4th quarter valued at approximately $42,000. Rockefeller Capital Management L.P. increased its stake in shares of Equinox Gold by 1.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company’s stock worth $1,504,000 after acquiring an additional 1,251 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Equinox Gold in the 4th quarter worth about $246,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Equinox Gold during the fourth quarter valued at approximately $173,000. Finally, Virtu Financial LLC bought a new position in Equinox Gold during the 4th quarter valued at approximately $192,000. 38.85% of the stock is 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.