Investors Buy High Volume of Put Options on Equinox Gold (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQXGet Rating) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 5,011 put options on the company. This is an increase of approximately 168% compared to the average volume of 1,869 put options.

Equinox Gold Trading Up 1.5 %

EQX opened at $3.49 on Thursday. The company has a quick ratio of 1.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.32. Equinox Gold has a 1 year low of $2.35 and a 1 year high of $9.07. The firm has a market capitalization of $1.06 billion, a P/E ratio of -31.55 and a beta of 1.02.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $245.10 million during the quarter. Equinox Gold had a negative return on equity of 0.97% and a negative net margin of 1.65%. On average, research analysts forecast that Equinox Gold will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EQX shares. BMO Capital Markets cut their price objective on shares of Equinox Gold from C$7.50 to C$6.00 in a research report on Monday, November 7th. National Bank Financial dropped their target price on shares of Equinox Gold from C$5.00 to C$4.00 in a research report on Friday, November 4th. TD Securities dropped their target price on shares of Equinox Gold from C$8.00 to C$6.00 in a research report on Friday, November 4th. Stifel Nicolaus dropped their target price on shares of Equinox Gold from C$10.50 to C$8.50 in a research report on Friday, November 4th. Finally, Royal Bank of Canada downgraded shares of Equinox Gold from a “sector perform” rating to an “underperform” rating in a research report on Monday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.39.

Institutional Investors Weigh In On Equinox Gold

A number of large investors have recently modified their holdings of EQX. Toronto Dominion Bank grew its holdings in shares of Equinox Gold by 0.7% in the first quarter. Toronto Dominion Bank now owns 263,779 shares of the company’s stock valued at $2,181,000 after purchasing an additional 1,858 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Equinox Gold by 5.8% in the first quarter. PNC Financial Services Group Inc. now owns 45,595 shares of the company’s stock valued at $377,000 after purchasing an additional 2,500 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Equinox Gold by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,641 shares of the company’s stock valued at $485,000 after purchasing an additional 2,669 shares during the period. Hollencrest Capital Management grew its holdings in shares of Equinox Gold by 2.7% in the second quarter. Hollencrest Capital Management now owns 123,912 shares of the company’s stock valued at $550,000 after purchasing an additional 3,300 shares during the period. Finally, Credit Suisse AG grew its holdings in shares of Equinox Gold by 1.6% in the second quarter. Credit Suisse AG now owns 226,225 shares of the company’s stock valued at $1,005,000 after purchasing an additional 3,530 shares during the period. Hedge funds and other institutional investors own 30.00% of the company’s stock.

Equinox Gold Company Profile

(Get Rating)

Equinox Gold Corp. engages in the operation, acquisition, exploration, and development of mineral properties. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the RDM gold mine located in Minas Gerais State; and Fazenda gold mine and the Santa Luz gold mine located in Bahia State, Brazil.

Further Reading

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