Short Interest in Equinox Gold Corp. (NYSEAMERICAN:EQX) Rises By 27.7%

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 14,970,000 shares, an increase of 27.7% from the October 15th total of 11,720,000 shares. Based on an average daily trading volume, of 3,730,000 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Equinox Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maple Rock Capital Partners Inc. purchased a new position in shares of Equinox Gold during the 1st quarter worth approximately $29,741,000. Donald Smith & CO. Inc. boosted its position in shares of Equinox Gold by 35.5% during the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock worth $109,927,000 after buying an additional 4,727,570 shares during the period. Van ECK Associates Corp grew its stake in shares of Equinox Gold by 10.5% in the second quarter. Van ECK Associates Corp now owns 38,166,859 shares of the company’s stock valued at $199,609,000 after buying an additional 3,628,998 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Equinox Gold by 54.6% in the 2nd quarter. Mackenzie Financial Corp now owns 8,953,104 shares of the company’s stock valued at $46,732,000 after buying an additional 3,162,992 shares during the period. Finally, Gemsstock Ltd. acquired a new position in Equinox Gold during the 2nd quarter worth about $13,045,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Price Performance

Shares of EQX opened at $5.17 on Friday. Equinox Gold has a 12-month low of $3.95 and a 12-month high of $6.50. The stock has a market capitalization of $2.35 billion, a P/E ratio of 10.55 and a beta of 1.31. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Equinox Gold had a net margin of 19.83% and a return on equity of 0.69%. The firm had revenue of $428.40 million during the quarter, compared to analysts’ expectations of $437.84 million. Equinox Gold’s revenue for the quarter was up 50.5% on a year-over-year basis. On average, sell-side analysts anticipate that Equinox Gold will post 0.36 earnings per share for the current year.

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.