Stock Traders Buy High Volume of Call Options on Equinox Gold (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of some unusual options trading on Wednesday. Investors purchased 15,592 call options on the stock. This is an increase of approximately 63% compared to the typical volume of 9,574 call options.

Equinox Gold Price Performance

NYSEAMERICAN:EQX traded down $0.11 during mid-day trading on Wednesday, hitting $18.43. 1,903,534 shares of the stock traded hands, compared to its average volume of 10,638,681. The business’s 50-day moving average price is $15.11 and its 200 day moving average price is $12.52. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24. The company has a market cap of $14.48 billion, a PE ratio of 76.78 and a beta of 1.24. Equinox Gold has a 12-month low of $5.59 and a 12-month high of $18.96.

Equinox Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, March 12th.

Analyst Ratings Changes

Several research firms have commented on EQX. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Stifel Nicolaus initiated coverage on Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $17.00.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors have recently added to or reduced their stakes in EQX. Van ECK Associates Corp lifted its holdings in shares of Equinox Gold by 91.3% during the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after acquiring an additional 45,820,861 shares during the last quarter. FIL Ltd purchased a new stake in Equinox Gold in the 4th quarter worth approximately $332,888,000. L1 Capital Pty Ltd lifted its stake in Equinox Gold by 120.4% in the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after acquiring an additional 13,060,846 shares during the period. Franklin Resources Inc. lifted its position in shares of Equinox Gold by 44,440.1% in the 2nd quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock worth $59,850,000 after purchasing an additional 10,341,217 shares during the period. Finally, Norges Bank bought a new stake in Equinox Gold during the 4th quarter valued at approximately $141,388,000. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Company Profile

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.