Equinox Gold (NYSEAMERICAN:EQX) Stock Sees Unusually High Call Option Buying

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of some unusual options trading activity on Friday. Stock traders acquired 38,974 call options on the company. This represents an increase of approximately 776% compared to the average volume of 4,449 call options.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a report on Thursday, September 17th. Royal Bank Of Canada upped their target price on shares of Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Zacks Research lowered shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Equinox Gold Trading Down 4.7%

Shares of EQX stock traded down $0.48 during trading hours on Friday, reaching $9.70. The company had a trading volume of 21,902,857 shares, compared to its average volume of 11,778,313. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. Equinox Gold has a 1-year low of $8.48 and a 1-year high of $18.96. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 9.70 and a beta of 1.32. The company has a 50 day moving average of $11.73 and a 200 day moving average of $12.77.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm 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 business’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities research analysts anticipate that Equinox Gold will post 1.00 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. Equinox Gold’s dividend payout ratio is currently 16.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQX. Compass Financial Management LLC acquired a new stake in shares of Equinox Gold in the third quarter valued at approximately $866,000. XML Financial LLC bought a new position in shares of Equinox Gold during the third quarter worth approximately $243,000. McAlvany Wealth Management LLC lifted its holdings in Equinox Gold by 1,673.3% during the 3rd quarter. McAlvany Wealth Management LLC now owns 178,797 shares of the company’s stock worth $1,986,000 after purchasing an additional 168,714 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Equinox Gold by 2.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,049 shares of the company’s stock valued at $2,778,000 after purchasing an additional 6,580 shares during the period. Finally, Profund Advisors LLC boosted its stake in Equinox Gold by 47.3% in the 3rd quarter. Profund Advisors LLC now owns 92,679 shares of the company’s stock valued at $1,030,000 after purchasing an additional 29,757 shares during the period. 38.85% of the stock is currently owned by institutional investors.

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.