Equinox Gold (NYSEAMERICAN:EQX) Shares Up 7.2% - Is It Time to Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) experienced a notable increase of 7.2% in its share price during trading on Monday. The stock peaked at $6.46 before settling at $6.51, with a total of 4,951,311 shares traded in the session. This trading volume marks a 28% drop compared to the average volume of 6,902,599 shares, following a previous closing price of $6.07.

Equinox Gold Price Performance

The current financial status of Equinox Gold shows a current ratio of 0.85, a quick ratio of 0.33, and a debt-to-equity ratio of 0.37. The company holds a market capitalization of approximately $2.99 billion with a price-to-earnings (PE) ratio of 13.41 and a beta of 1.33, indicating its volatility relative to the market.

On November 6th, Equinox Gold released its latest quarterly earnings results. The company reported earnings per share (EPS) of $0.09, which fell short of the consensus estimate of $0.10 by $0.01. Equinox Gold's net profit margin stands at 19.83%, and its return on equity is at 0.69%. The company's revenue for the quarter was $428.40 million, which is below the anticipated $437.84 million but represents a 50.5% increase compared to the same quarter the previous year. Analysts predict that Equinox Gold will achieve an EPS of $0.36 for the current fiscal year.

Institutional Trading of Equinox Gold

Several institutional investors have shown interest in Equinox Gold recently. For instance, CIBC Asset Management Inc. increased its holdings in the company by 3.3% during the fourth quarter, acquiring an additional 17,017 shares, bringing its total to 537,896 shares valued at about $2,703,000. Other investors, such as Sanctuary Advisors LLC and Helikon Investments Ltd, also added new positions, with investments amounting to approximately $462,000 and $8,559,000, respectively. As of now, institutional investors control 38.85% of Equinox Gold's shares.

About Equinox Gold

Equinox Gold Corp. specializes in exploring, acquiring, developing, and operating mineral properties across the Americas. The company focuses on gold and silver deposits and has interests in various regions including California in the U.S., Guerrero State in Mexico, and multiple states in Brazil.

Investment Considerations

Investors should consider their options regarding Equinox Gold before making decisions. While the stock has shown a significant upward movement recently, it is currently rated as a "Hold" by analysts, with some suggesting there may be other more attractive investments available at this time.

Equinox, Gold, Investment