Traders Purchase High Volume of Equinox Gold Call Options (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw unusually large options trading on Thursday. Traders bought 7,267 call options on the company. This represents an increase of 212% compared to the average volume of 2,329 call options.

Institutional Trading of Equinox Gold

Several large investors have recently added to or reduced their stakes in EQX. Norges Bank acquired a new position in shares of Equinox Gold during the 4th quarter valued at $5,304,000. Vanguard Group Inc. boosted its stake in shares of Equinox Gold by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company’s stock worth $69,626,000 after acquiring an additional 236,455 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Equinox Gold during the 4th quarter worth $95,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Equinox Gold by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 931,677 shares of the company’s stock worth $4,690,000 after acquiring an additional 17,886 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Equinox Gold during the 4th quarter worth $462,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $6.44 on Friday. Equinox Gold has a 1-year low of $4.48 and a 1-year high of $7.45. The business has a 50-day moving average of $6.62 and a 200-day moving average of $6.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.93 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 3.20% and a net margin of 17.81%. The firm had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. During the same period in the prior year, the business earned ($0.13) EPS. The company’s quarterly revenue was up 75.6% on a year-over-year basis. On average, equities analysts anticipate that Equinox Gold will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st.

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.