A Look at Equinox Gold Corp. (EQX) Shares in the Recent Past Indicates Growth

Equinox Gold Corp. (AMEX: EQX) stock fell -2.48% on Friday to $4.33 against a previous-day closing price of $4.44. With 1.95 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.35 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $4.5000 whereas the lowest price it dropped to was $4.2300. The 52-week range on EQX shows that it touched its highest point at $9.07 and its lowest point at $3.75 during that stretch. It currently has a 1-year price target of $7.00. Beta for the stock currently stands at 0.55.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EQX was up-trending over the past week, with a rise of 0.70%, but this was up by 0.93% over a month. Three-month performance dropped to -39.78% while six-month performance fell -26.49%. The stock lost -38.58% in the past year, while it has lost -35.95% so far this year. A look at the trailing 12-month EPS for EQX yields 1.49 with Next year EPS estimates of 0.05. For the next quarter, that number is -0.05. This implies an EPS growth rate of 0.00% for this year and 150.00% for next year.

Float and Shares Shorts:

At present, 302.23 million EQX shares are outstanding with a float of 279.46 million shares on hand for trading. On Jul 14, 2022, short shares totaled 13.9 million, which was 4.58% higher than short shares on Jun 14, 2022. In addition to Mr. Christian Milau (Illinois), C.A., CPA, CA, CPA as the firm’s CEO & Director, Mr. Gregory D. Smith C.A. serves as its Pres.

Institutional Ownership:

Through their ownership of 44.08% of EQX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of EQX, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 5.27% stake in EQX, the VanEck Gold Miners ETF is the largest stakeholder. A total of 15,958,779 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 4.06% of EQX stock, is the second-largest Mutual Fund holder. It holds 12,304,717 shares valued at 54.63 million. Kopernik Global All Cap Fund holds 1.75% of the stake in EQX, owning 5,299,201 shares worth 23.53 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, EQX reported revenue of $223.16M and operating income of $13.07M. Over the past year, revenue came in at $1.08B while operating income stood at $127.64M. It generated -$19.78M net income for the quarter, which came to $484.79M over the last twelve months. The EBITDA in the recently reported quarter was $57.14M and diluted EPS was -$0.07. EBITDA for the full year was $381.58M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQX since 12 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EQX analysts setting a high price target of $10.18 and a low target of $4.46, the average target price over the next 12 months is $7.70. Based on these targets, EQX could surge 135.1% to reach the target high and rise by 3.0% to reach the target low. Reaching the average price target will result in a growth of 77.83% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EQX will report FY 2022 earnings on 04/03/2023. Analysts have provided yearly estimates in a range of $0.57 being high and $0.02 being low. For EQX, this leads to a yearly average estimate of $0.21. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Equinox Gold Corp. surprised analysts by -$0.10 when it reported -$0.08 EPS against a consensus estimate of $0.02. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is -$0.02. The average estimate for the next quarter is thus $0.01.

Summary of Insider Activity:

Insiders traded EQX stock several times over the past three months with 55 Buys and 10 Sells. In these transactions, 2,691,159 shares were bought while 57,543 shares were sold. The number of buy transactions has increased to 166 while that of sell transactions has risen to 58 over the past year. The total number of shares bought during that period was 5,695,872 while 1,742,251 shares were sold.

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