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

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 13,240,000 shares, a decline of 7.3% from the March 15th total of 14,280,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the days-to-cover ratio is currently 5.7 days. Currently, 4.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors have recently bought and sold shares of EQX. Deutsche Bank AG bought a new stake in shares of Equinox Gold during the fourth quarter worth $41,000. Evergreen Capital Management LLC bought a new stake in shares of Equinox Gold during the fourth quarter worth $49,000. Everett Harris & Co. CA bought a new stake in shares of Equinox Gold during the fourth quarter worth $52,000. First Trust Advisors LP raised its position in shares of Equinox Gold by 38.1% during the third quarter. First Trust Advisors LP now owns 15,136 shares of the company’s stock worth $55,000 after acquiring an additional 4,178 shares during the last quarter. Finally, &PARTNERS bought a new stake in shares of Equinox Gold during the first quarter worth $60,000. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Performance

Shares of EQX opened at $5.84 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32. Equinox Gold has a 52-week low of $3.95 and a 52-week high of $6.50. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 64.83 and a beta of 1.31.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Equinox Gold had a return on equity of 0.69% and a net margin of 2.65%. The firm had revenue of $297.80 million during the quarter. Analysts expect that Equinox Gold will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of Equinox Gold in a research note on Monday, April 8th. Desjardins upgraded Equinox Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th.

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.