Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 6.6% – Here’s What Happened

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) rose 6.6% during trading on Wednesday . The stock traded as high as $6.35 and last traded at $6.34. Approximately 3,636,025 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 3,187,529 shares. The stock had previously closed at $5.95.

Equinox Gold Stock Up 7.7 %

The firm has a market cap of $2.92 billion, a P/E ratio of 13.20 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $428.40 million for the quarter, compared to analysts’ expectations of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. Equinox Gold’s revenue was up 50.5% compared to the same quarter last year. As a group, sell-side analysts predict that Equinox Gold Corp. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

A number of hedge funds have recently modified their holdings of the business. Synovus Financial Corp acquired a new stake in shares of Equinox Gold in the third quarter valued at about $61,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equinox Gold in the third quarter valued at about $110,000. Virtu Financial LLC purchased a new stake in shares of Equinox Gold in the third quarter valued at about $368,000. Hobbs Group Advisors LLC purchased a new stake in shares of Equinox Gold in the third quarter valued at about $43,000. Finally, Toronto Dominion Bank grew its holdings in shares of Equinox Gold by 119.4% in the third quarter. Toronto Dominion Bank now owns 132,001 shares of the company’s stock valued at $804,000 after purchasing an additional 71,843 shares during the period. 38.85% of the stock is currently 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.