Equinox Gold (NYSEAMERICAN:EQX) Stock Price Down 8.2% – Time to Sell?

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

Wall Street Analyst Weigh In

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

Equinox Gold Stock Performance

The firm has a market cap of $9.65 billion, a P/E ratio of 51.10 and a beta of 1.20. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $15.81 and its two-hundred day moving average is $13.46.

Equinox Gold Announces Dividend

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

Hedge Funds Weigh In On Equinox Gold

Several large investors have recently modified their holdings of the business. Mcguire Capital Advisors Inc. bought a new stake in Equinox Gold during the 4th quarter valued at $25,000. Lodestone Wealth Management LLC bought a new position in shares of Equinox Gold in the fourth quarter worth $28,000. Aventura Private Wealth LLC purchased a new position in shares of Equinox Gold in the fourth quarter valued at $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Equinox Gold in the fourth quarter valued at $37,000. Finally, Quarry LP raised its stake in shares of Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after purchasing an additional 2,098 shares during the period. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.