Stock Traders Buy High Volume of Call Options on Equinox Gold (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of some unusual options trading activity on Wednesday. Investors acquired 15,592 call options on the company. This is an increase of approximately 63% compared to the average daily volume of 9,574 call options.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQX. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday. Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Stifel Nicolaus began coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $17.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX traded down $0.11 during mid-day trading on Wednesday, hitting $18.43. 1,903,534 shares of the company’s stock traded hands, compared to its average volume of 10,638,681. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.56 and a quick ratio of 1.27. Equinox Gold has a 1 year low of $5.59 and a 1 year high of $18.96. The company’s 50-day moving average is $15.11 and its two-hundred day moving average is $12.52. The company has a market capitalization of $14.48 billion, a P/E ratio of 76.78 and a beta of 1.24.

Equinox Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.015 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EQX. Virtu Financial LLC purchased a new position in shares of Equinox Gold during the 4th quarter worth about $192,000. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold during the fourth quarter valued at approximately $25,000. Vident Advisory LLC purchased a new stake in shares of Equinox Gold in the fourth quarter worth approximately $1,176,000. Beacon Pointe Advisors LLC raised its holdings in shares of Equinox Gold by 25.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 25,000 shares of the company’s stock worth $351,000 after buying an additional 5,000 shares during the period. Finally, Regal Partners Ltd bought a new stake in shares of Equinox Gold during the 4th quarter worth approximately $8,894,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

About Equinox Gold

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.