Equinox Gold Sees Unusually Large Options Volume (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw unusually large options trading on Friday. Stock investors acquired 38,974 call options on the stock. This represents an increase of approximately 776% compared to the average volume of 4,449 call options.

Institutional Trading of Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Compass Financial Management LLC acquired a new position in shares of Equinox Gold during the third quarter worth about $866,000. XML Financial LLC acquired a new stake in shares of Equinox Gold during the third quarter worth approximately $243,000. McAlvany Wealth Management LLC grew its holdings in Equinox Gold by 1,673.3% during the 3rd quarter. McAlvany Wealth Management LLC now owns 178,797 shares of the company’s stock worth $1,986,000 after acquiring an additional 168,714 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Equinox Gold by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,049 shares of the company’s stock valued at $2,778,000 after buying an additional 6,580 shares during the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of Equinox Gold by 47.3% in the 3rd quarter. Profund Advisors LLC now owns 92,679 shares of the company’s stock valued at $1,030,000 after acquiring an additional 29,757 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQX has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 21st. Royal Bank Of Canada boosted their price objective on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a research note on Thursday, September 17th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.00.

Equinox Gold Trading Down 4.7%

Shares of Equinox Gold stock opened at $9.70 on Friday. Equinox Gold has a 1 year low of $8.48 and a 1 year high of $18.96. The company has a market capitalization of $11.32 billion, a P/E ratio of 9.70 and a beta of 1.32. The business has a 50 day moving average price of $11.73 and a 200 day moving average price of $12.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Sell-side analysts anticipate that Equinox Gold will post 1.00 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.0225 dividend. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. Equinox Gold’s dividend payout ratio (DPR) is presently 16.67%.

Equinox Gold Company Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.