Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down – Time to Sell?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $6.80, but opened at $6.42. Equinox Gold shares last traded at $6.94, with a volume of 1,486,559 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TD Securities raised Equinox Gold to a “hold” rating in a report on Tuesday, February 4th. TD Cowen began coverage on shares of Equinox Gold in a research report on Tuesday, February 4th. They set a “hold” rating and a $35.00 target price on the stock.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. The stock has a market capitalization of $3.24 billion, a PE ratio of 14.44 and a beta of 1.33.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently made changes to their positions in EQX. Public Employees Retirement System of Ohio grew its holdings in shares of Equinox Gold by 2.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock worth $691,000 after purchasing an additional 3,826 shares during the last quarter. Pacific Point Advisors LLC bought a new position in Equinox Gold in the 4th quarter worth about $93,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Equinox Gold during the fourth quarter worth approximately $301,000. Toronto Dominion Bank increased its position in shares of Equinox Gold by 118.0% during the fourth quarter. Toronto Dominion Bank now owns 287,816 shares of the company’s stock worth $1,447,000 after acquiring an additional 155,815 shares during the period. Finally, Shell Asset Management Co. raised its stake in shares of Equinox Gold by 15.6% during the fourth quarter. Shell Asset Management Co. now owns 1,185,152 shares of the company’s stock valued at $5,966,000 after acquiring an additional 160,107 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

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.