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Equinox Gold Corp. (AMEX: EQX) Could Have Exceptional Returns?

In the last trading session, 2.81 million shares of the Equinox Gold Corp. (AMEX:EQX) were traded, and its beta was 0.48. Most recently the company’s…

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This article was originally published by The Marketing Sentinal

In the last trading session, 2.81 million shares of the Equinox Gold Corp. (AMEX:EQX) were traded, and its beta was 0.48. Most recently the company’s share price was $3.75, and it changed around $0.11 or 3.02% from the last close, which brings the market valuation of the company to $1.50B. EQX currently trades at a discount to its 52-week high of $9.07, offering almost -141.87% off that amount. The share price’s 52-week low was $2.35, which indicates that the current value has risen by an impressive 37.33% since then. We note from Equinox Gold Corp.’s average daily trading volume that its 10-day average is 3.86 million shares, with the 3-month average coming to 2.34 million.

Equinox Gold Corp. stock received a consensus recommendation rating of an Overweight, based on a mean score of 3.00. If we narrow it down even further, the data shows that 1 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended EQX as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Equinox Gold Corp. is expected to report earnings per share of $0 for the current quarter.

Equinox Gold Corp. (AMEX:EQX) trade information

Instantly EQX has showed a green trend with a performance of 3.02% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.83 on Monday, 11/14/22 increased the stock’s daily price by 2.09%. The company’s shares are currently down -44.53% year-to-date, but still up 22.95% over the last five days. On the other hand, Equinox Gold Corp. (AMEX:EQX) is 18.67% up in the 30-day period. We can see from the shorts that 12.63 million shares have been sold at a short interest cover period of 5.05 day(s).

The consensus price target as assigned by Wall Street analysts is $4.15, which translates to bulls needing to increase their stock price by 9.64% from its current value. Analyst projections state that EQX is forecast to be at a low of $2.91 and a high of $6.55. In order for the stock price to hit the forecast high, the stock would need to plunge -74.67% from its current level, while the stock would need to crash 22.4% from its current level to reach the projected low.

Equinox Gold Corp. (EQX) estimates and forecasts

Equinox Gold Corp. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -30.56 percent over the past six months and at a -245.45% annual growth rate that is well below the industry average of -4.60%. The year-over-year growth rate is expected to be -4.90%, down from the previous year.

EQX Dividends

Equinox Gold Corp.’s next quarterly earnings report is expected to be released on November 03.

Equinox Gold Corp. (AMEX:EQX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.02% of Equinox Gold Corp. shares, and 44.88% of them are in the hands of institutional investors. The stock currently has a share float of 48.79%. Equinox Gold Corp. stock is held by 243 institutions, with Van Eck Associates Corporation being the largest institutional investor. By Sep 29, 2022, it held 10.06% of the shares, which is about 30.69 million shares worth $112.03 million.

Vanguard Group, Inc. (The), with 2.76% or 8.43 million shares worth $37.45 million as of Jun 29, 2022, holds the second largest percentage of outstanding shares.

VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF were the top two Mutual Funds as of Sep 29, 2022. The former held 15.65 million shares worth $57.14 million, making up 5.13% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held roughly 11.74 million shares worth around $42.86 million, which represents about 3.85% of the total shares outstanding.

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