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

Equinox Gold Corp. (NYSEAMERICAN:EQX) was the target of some unusual options trading activity on Wednesday. Investors acquired 15,592 call options on the stock. This represents an increase of 63% compared to the average daily volume of 9,574 call options.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $18.11 on Thursday. The firm has a market cap of $14.25 billion, a PE ratio of 75.46 and a beta of 1.24. The firm’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $12.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. Equinox Gold has a 1 year low of $5.59 and a 1 year high of $18.96.

Equinox Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.06 annualized dividend and a yield of 0.3%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors have recently made changes to their positions in EQX. Ruffer LLP lifted its position in shares of Equinox Gold by 15.4% in the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock worth $96,992,000 after buying an additional 1,152,288 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Equinox Gold during the third quarter worth about $6,991,000. Maple Rock Capital Partners Inc. raised its stake in Equinox Gold by 102.1% during the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after acquiring an additional 7,229,260 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after acquiring an additional 390,000 shares during the last quarter. Finally, All Terrain Financial Advisors LLC acquired a new position in Equinox Gold in the second quarter valued at approximately $498,000. 38.85% of the stock is currently owned by institutional investors.

About Equinox Gold

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.