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

Key Points

• Equinox Gold Corp. experienced a significant surge in options trading, with investors purchasing 71,419 call options, marking a 1,937% increase from the average daily volume.
• The company's stock price rose 0.8% to $6.71, with a market capitalization of $5.09 billion and a price-to-earnings ratio of 13.41.
• Analyst ratings for Equinox Gold show a consensus of a "Moderate Buy" with a price target of $35.00, following various upgrades and downgrades from notable financial institutions.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 71,419 call options on the stock. Thisrepresentsanincreaseofapproximately1,937% compared to the typical volume of 3,506 call options.

Equinox Gold Trading Up 15.2%

NYSEAMERICAN:EQX traded up $1.03 during trading hours on Thursday, hitting $7.82. The company had a trading volume of 37,485,883 shares, compared to its average volume of 11,855,278. The company has a market capitalization of $5.94 billion, a PE ratio of -130.31 and a beta of 1.10. The stock has a 50-day moving average price of $6.30 and a 200 day moving average price of $6.41. Equinox Gold has a 52 week low of $4.95 and a 52 week high of $7.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.50.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. Equinox Gold had a positive return on equity of 4.06% and a negative net margin of 1.21%. The business had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The company's revenue for the quarter was up 77.7% on a year-over-year basis. On average, equities research analysts predict that Equinox Gold will post 0.85 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

Hedge funds have recently modified their holdings of the business. LPL Financial LLC raised its position in shares of Equinox Gold by 8.3% in the 4th quarter. LPL Financial LLC now owns 430,722 shares of the company's stock worth $2,162,000 after purchasing an additional 32,952 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Equinox Gold by 11.3% in the 4th quarter. JPMorgan Chase & Co. now owns 224,179 shares of the company's stock worth $1,125,000 after purchasing an additional 22,693 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Equinox Gold by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 178,818 shares of the company's stock worth $911,000 after purchasing an additional 6,351 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Equinox Gold by 16.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,358 shares of the company's stock worth $102,000 after purchasing an additional 2,855 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Equinox Gold by 59.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,178 shares of the company's stock worth $207,000 after purchasing an additional 15,425 shares during the last quarter. Institutional investors own 38.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. BMO Capital Markets began coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, June 13th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.00.

Equinox Gold Company Profile

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.