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Equinox Gold Corp. (EQX) Has A Promising Outlook For 2022

Equinox Gold Corp. (AMEX:EQX) has a beta value of 0.91 and has seen 1.47 million shares traded in the last trading session. The company, currently valued…



This article was originally published by The Marketing Sentinal

Equinox Gold Corp. (AMEX:EQX) has a beta value of 0.91 and has seen 1.47 million shares traded in the last trading session. The company, currently valued at $1.28B, closed the last trade at $4.18 per share which meant it gained $0.19 on the day or 4.76% during that session. The EQX stock price is -116.99% off its 52-week high price of $9.07 and 10.29% above the 52-week low of $3.75. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.24 million shares traded. The 3-month trading volume is 2.27 million shares.

The consensus among analysts is that Equinox Gold Corp. (EQX) is an Overweight stock at the moment, with a recommendation rating of 2.00. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 12 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight.

Equinox Gold Corp. (AMEX:EQX) trade information

Sporting 4.76% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 07/19/22 when the EQX stock price touched $4.18 or saw a rise of 3.24%. Year-to-date, Equinox Gold Corp. shares have moved -38.17%, while the 5-day performance has seen it change 2.70%. Over the past 30 days, the shares of Equinox Gold Corp. (AMEX:EQX) have changed -23.58%. Short interest in the company has seen 5.9 million shares shorted with days to cover at 3.43.

Wall Street analysts have a consensus price target for the stock at $9.15, which means that the shares’ value could jump 54.32% from current levels. The projected low price target is $4.42 while the price target rests at a high of $12.58. In that case, then, we find that the current price level is -200.96% off the targeted high while a plunge would see the stock gain -5.74% from current levels.

Equinox Gold Corp. (EQX) estimates and forecasts

Figures show that Equinox Gold Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -39.07% over the past 6 months, with this year growth rate of 9.09%, compared to 10.40% for the industry. Revenue growth from the last financial year stood is estimated to be 12.90%.

0 analysts offering their estimates for the company have set an average revenue estimate of $223.2 million for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 41.60% over the past 5 years.

EQX Dividends

Equinox Gold Corp. is expected to release its next earnings report between March 01 and March 07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 11.83% of the company shares, while shares held by institutions stand at 45.82% with a share float percentage of 51.97%. Investors are also buoyed by the number of investors in a company, with Equinox Gold Corp. having a total of 273 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 33.3 million shares worth more than $275.42 million. As of Mar 30, 2022, Van Eck Associates Corporation held 11.02% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 8.03 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $54.26 million and represent 2.66% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Dec 30, 2021, the former fund manager holds about 4.44% shares in the company for having 13.43 million shares of worth $90.76 million while later fund manager owns 12.3 million shares of worth $87.08 million as of Feb 27, 2022, which makes it owner of about 4.07% of company’s outstanding stock.

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