Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Free Report) was the recipient of unusually large options trading on Friday. Traders bought 38,974 call options on the company. This represents an increase of approximately 776% compared to the typical daily volume of 4,449 call options.
Equinox Gold Trading Down 4.7%
NYSEAMERICAN:EQX traded down $0.48 during mid-day trading on Friday, hitting $9.70. 21,902,857 shares of the company’s stock were exchanged, compared to its average volume of 11,778,313. Equinox Gold has a fifty-two week low of $8.48 and a fifty-two week high of $18.96. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $11.32 billion, a P/E ratio of 9.70 and a beta of 1.32. The company has a 50 day simple moving average of $11.73 and a 200-day simple moving average of $12.77.
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $769.80 million during 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 company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 earnings per share. As a group, research analysts expect that Equinox Gold will post 1.00 earnings per share for the current year.
Equinox Gold Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Compass Financial Management LLC bought a new stake in shares of Equinox Gold in the 3rd quarter valued at about $866,000. XML Financial LLC bought a new position in shares of Equinox Gold during the third quarter worth about $243,000. McAlvany Wealth Management LLC lifted its stake in shares of Equinox Gold by 1,673.3% in the third 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 during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Equinox Gold by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,049 shares of the company’s stock worth $2,778,000 after acquiring an additional 6,580 shares during the period. Finally, Profund Advisors LLC lifted its stake in shares of Equinox Gold by 47.3% in the third quarter. Profund Advisors LLC now owns 92,679 shares of the company’s stock worth $1,030,000 after acquiring an additional 29,757 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th. Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. Royal Bank Of Canada lifted their price target on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Finally, TD Securities reissued a “buy” rating on shares of Equinox Gold in a report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Equinox Gold presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.
View Our Latest Stock Analysis on Equinox Gold
About Equinox Gold
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.
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