Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Up - Should You Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $7.01, but opened at $7.36. Equinox Gold shares last traded at $7.18, with a volume of 1,512,891 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EQX shares. National Bank Financial upgraded shares of Equinox Gold to a "strong-buy" rating in a research report on Friday, March 21st. TD Cowen started coverage on shares of Equinox Gold in a report on Tuesday, February 4th. They issued a "hold" rating and a $35.00 price target for the company. Finally, TD Securities raised Equinox Gold to a "hold" rating in a research note on Tuesday, February 4th.

Equinox Gold Stock 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 business has a 50-day moving average of $6.69 and a 200-day moving average of $6.02. The company has a market capitalization of $3.05 billion, a P/E ratio of 12.40 and a beta of 1.33.

Institutional Trading of Equinox Gold

Several institutional investors have recently added to or reduced their stakes in EQX. Continuum Advisory LLC raised its holdings in shares of Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after buying an additional 2,620 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Equinox Gold by 2.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 86,161 shares of the company's stock worth $592,000 after purchasing an additional 1,990 shares during the period. Builder Investment Group Inc. ADV lifted its position in shares of Equinox Gold by 2.3% during the first quarter. Builder Investment Group Inc. ADV now owns 1,063,984 shares of the company's stock worth $7,320,000 after purchasing an additional 23,500 shares during the last quarter. Grimes & Company Inc. purchased a new stake in shares of Equinox Gold during the first quarter valued at $147,000. Finally, Tobam bought a new position in shares of Equinox Gold in the first quarter worth about $29,000. Institutional investors 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.