Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Up – Here’s Why

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) gapped up prior to trading on Tuesday . The stock had previously closed at $6.48, but opened at $6.61. Equinox Gold shares last traded at $6.41, with a volume of 922,691 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen assumed coverage on Equinox Gold in a research note on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price for the company. TD Securities upgraded Equinox Gold to a “hold” rating in a report on Tuesday, February 4th.

Equinox Gold Stock Down 1.6 %

The company has a market cap of $2.90 billion, a price-to-earnings ratio of 11.77 and a beta of 1.33. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On Equinox Gold

A number of hedge funds have recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA raised its position in shares of Equinox Gold by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 61,193 shares of the company’s stock worth $308,000 after purchasing an additional 1,956 shares during the period. Wells Fargo & Company MN raised its holdings in Equinox Gold by 16.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,358 shares of the company’s stock worth $102,000 after buying an additional 2,855 shares during the last quarter. Kohmann Bosshard Financial Services LLC lifted its stake in shares of Equinox Gold by 10.6% in the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 36,000 shares of the company’s stock valued at $181,000 after buying an additional 3,450 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Equinox Gold by 2.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock valued at $691,000 after buying an additional 3,826 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of Equinox Gold by 20.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock valued at $151,000 after buying an additional 4,198 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.