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

Key Points

• Equinox Gold saw unusually high options activity as traders bought 15,515 call options on Monday, an increase of 76% versus typical call volume, indicating elevated bullish interest.
• EQX traded up 1.1% to $14.73 on the day with below-average volume (3.31M vs. 10.12M average); the company has a market cap of $11.61B, a P/E of 61.3, 50-/200-day moving averages of $15.82/$13.37, and a 12‑month range of $5.59–$18.96.
• The company declared a quarterly dividend of $0.015 per share (annualized $0.06, ~0.4% yield), and analysts hold a consensus Buy rating with an average price target of $17.00 after several recent upgrades.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) saw some unusual options trading activity on Monday. Traders purchased 15,515 call options on the company. This represents an increase of 76% compared to the typical volume of 8,816 call options.

Equinox Gold Trading Up 1.1%

EQX stock traded up $0.16 on Monday, hitting $14.73. 3,305,404 shares of the company were exchanged, compared to its average volume of 10,117,126. The stock has a market capitalization of $11.61 billion, a price-to-earnings ratio of 61.31 and a beta of 1.20. The business's fifty day moving average is $15.82 and its two-hundred day moving average is $13.37. Equinox Gold has a twelve month low of $5.59 and a twelve month high of $18.96. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.06 annualized dividend and a yield of 0.4%. Equinox Gold's dividend payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research upgraded Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 10th. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a "buy" rating for the company. Scotiabank reissued an "outperform" rating on shares of Equinox Gold in a report on Monday, January 26th. BMO Capital Markets restated an "outperform" rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce raised Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.00.

Institutional Trading of Equinox Gold

A number of hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new stake in Equinox Gold during the 4th quarter worth $25,000. SBI Securities Co. Ltd. grew its position in shares of Equinox Gold by 2,054.6% during the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company's stock worth $27,000 after buying an additional 4,479 shares in the last quarter. Aventura Private Wealth LLC bought a new position in Equinox Gold during the 4th quarter valued at $28,000. Lodestone Wealth Management LLC bought a new position in shares of Equinox Gold during the fourth quarter worth about $28,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Equinox Gold in the fourth quarter valued at about $37,000. 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.

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