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

Equinox Gold Corp. (NYSEAMERICAN:EQXGet Rating) saw some unusual options trading on Wednesday. Stock investors purchased 5,011 put options on the stock. This represents an increase of 168% compared to the typical daily volume of 1,869 put options.

Wall Street Analyst Weigh In

EQX has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on Equinox Gold from C$10.50 to C$8.50 in a research report on Friday, November 4th. National Bank Financial reduced their price objective on Equinox Gold from C$5.00 to C$4.00 in a research report on Friday, November 4th. Scotiabank reduced their price objective on Equinox Gold from C$6.50 to C$6.00 in a research report on Friday, November 4th. Royal Bank of Canada cut Equinox Gold from a “sector perform” rating to an “underperform” rating in a research report on Monday, October 24th. Finally, BMO Capital Markets dropped their price objective on Equinox Gold from C$7.50 to C$6.00 in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.39.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQX. SeaCrest Wealth Management LLC acquired a new position in shares of Equinox Gold during the 2nd quarter worth about $29,000. Bluefin Capital Management LLC acquired a new stake in Equinox Gold in the 3rd quarter valued at about $46,000. AE Wealth Management LLC acquired a new stake in Equinox Gold in the 3rd quarter valued at about $49,000. Great West Life Assurance Co. Can acquired a new stake in Equinox Gold in the 3rd quarter valued at about $54,000. Finally, Petrus Trust Company LTA acquired a new stake in Equinox Gold in the 3rd quarter valued at about $54,000. 30.00% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Up 1.5 %

NYSEAMERICAN:EQX opened at $3.49 on Friday. Equinox Gold has a 52-week low of $2.35 and a 52-week high of $9.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.65 and a current ratio of 2.67. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -31.73 and a beta of 1.02.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last issued its 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 business had revenue of $245.10 million for the quarter. Equinox Gold had a negative net margin of 1.65% and a negative return on equity of 0.97%. Analysts forecast that Equinox Gold will post -0.32 earnings per share for the current fiscal year.

About Equinox Gold

(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.

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