Short Interest in Equinox Gold Corp. (NYSEAMERICAN:EQX) Decreases By 8.3%

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 11,320,000 shares, a drop of 8.3% from the July 15th total of 12,340,000 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 2,830,000 shares, the short-interest ratio is presently 4.0 days.

Institutional Investors Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Equinox Gold by 10.5% during the 2nd quarter. Van ECK Associates Corp now owns 38,166,859 shares of the company’s stock worth $199,609,000 after purchasing an additional 3,628,998 shares during the last quarter. Donald Smith & CO. Inc. increased its position in Equinox Gold by 27.5% during the second quarter. Donald Smith & CO. Inc. now owns 13,322,869 shares of the company’s stock worth $69,679,000 after buying an additional 2,873,059 shares during the last quarter. Vanguard Group Inc. increased its position in Equinox Gold by 9.9% during the first quarter. Vanguard Group Inc. now owns 10,519,078 shares of the company’s stock worth $63,325,000 after buying an additional 943,855 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Equinox Gold by 54.6% during the second quarter. Mackenzie Financial Corp now owns 8,953,104 shares of the company’s stock valued at $46,732,000 after buying an additional 3,162,992 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Equinox Gold by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,805,581 shares of the company’s stock worth $40,824,000 after buying an additional 597,182 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial raised Equinox Gold from a “sector perform spec overwgt” rating to an “outperform overweight” rating in a research note on Friday, April 26th.

Equinox Gold Trading Up 4.0 %

Equinox Gold stock opened at $5.43 on Friday. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -60.33 and a beta of 1.31. Equinox Gold has a twelve month low of $3.95 and a twelve month high of $6.50. The company has a current ratio of 1.17, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $269.43 million for the quarter. Equinox Gold had a negative net margin of 2.85% and a positive return on equity of 0.43%. As a group, sell-side analysts expect that Equinox Gold will post 0.4 earnings per share for the current fiscal year.

About Equinox Gold

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.