Equinox Gold (NYSEAMERICAN:EQX) Shares Surge by 7.2% - Is It Time to Invest?

Equinox Gold Corp. (NYSEAMERICAN:EQX) experienced a notable increase of 7.2% in its stock price during midday trading on Monday. The stock peaked at $6.46 before settling at $6.51. During this trading session, 4,951,311 shares changed hands, which is a 28% decrease from its average session volume of 6,902,599 shares. Previously, the stock had closed at $6.07.

Performance of Equinox Gold

The company currently has a current ratio of 0.85, a quick ratio of 0.33, and a debt-to-equity ratio of 0.37. It boasts a market capitalization of approximately $2.99 billion, a price-to-earnings (PE) ratio of 13.41, and a beta value of 1.33.

Equinox Gold reported its quarterly earnings on November 6th. The company achieved earnings per share (EPS) of $0.09, slightly below the expected $0.10, missing the consensus estimate by $0.01. They had a net margin of 19.83% and a return on equity of 0.69%. The revenues for the quarter reached $428.4 million, falling short of the anticipated $437.84 million, yet showing a significant increase of 50.5% compared to the same quarter last year. Analysts project that Equinox Gold will deliver an EPS of 0.36 for the current fiscal year.

Institutional Investment in Equinox Gold

Recently, several hedge funds and institutional investors have altered their stakes in Equinox Gold. CIBC Asset Management Inc. increased its ownership by 3.3% during the fourth quarter and now holds 537,896 shares valued at $2,703,000 after acquiring an additional 17,017 shares. Sanctuary Advisors LLC entered a new position valued at approximately $462,000 in the same quarter, while Choreo LLC invested roughly $63,000 in a new position. Helikon Investments Ltd initiated a new position valued at about $8,559,000, and Southland Equity Partners LLC also acquired a new position worth around $245,000. In total, institutional investors control about 38.85% of Equinox Gold's stock.

Overview of Equinox Gold

Equinox Gold Corp. specializes in exploring, acquiring, developing, and operating mineral properties across the Americas, focusing particularly on gold and silver deposits. Their interests include properties located in California in the United States, Guerrero State in Mexico, and several states in Brazil, as well as Ontario, Canada.

Considerations for Investors

Before making an investment decision regarding Equinox Gold, it is essential to note that MarketBeat monitors the top-performing research analysts and the stocks they recommend. Currently, Equinox Gold is rated as a 'Hold' by analysts, and it has not made it onto the list of five stocks preferred by top analysts for immediate recommendations.

Investors should conduct thorough research and consider various analysts' recommendations when evaluating their investment strategies, especially with regard to small-cap stocks.

Equinox, Gold, Stocks