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

Equinox Gold Corp. (NYSEAMERICAN:EQX) saw some unusual options trading activity on Tuesday. Traders bought 71,419 call options on the company. Thisisanincreaseof1,937% compared to the average daily volume of 3,506 call options.

Wall Street Analysts Forecast Growth

EQX has been the subject of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They issued an “outperform” rating for the company. TD Securities raised shares of Equinox Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, July 16th. CIBC reissued a “neutral” rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, National Bankshares reissued an “outperform” rating on shares of Equinox Gold in a research report on Friday, June 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinox Gold has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Equinox Gold Price Performance

Shares of EQX opened at $6.81 on Wednesday. The firm has a market cap of $5.18 billion, a PE ratio of 13.62 and a beta of 1.10. The firm’s 50 day moving average price is $6.29 and its 200 day moving average price is $6.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. Equinox Gold has a twelve month low of $4.95 and a twelve month high of $7.45.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tobam acquired a new position in Equinox Gold during the first quarter valued at approximately $29,000. American Capital Advisory LLC acquired a new position in Equinox Gold during the second quarter valued at approximately $25,000. SBI Securities Co. Ltd. grew its holdings in Equinox Gold by 2,054.6% during the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after purchasing an additional 4,479 shares during the last quarter. Continuum Advisory LLC grew its holdings in Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock valued at $52,000 after purchasing an additional 2,620 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in Equinox Gold by 191.2% during the second quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock valued at $43,000 after purchasing an additional 4,970 shares during the last quarter. Institutional investors own 38.85% of the company’s stock.

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.