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

Equinox Gold Corp. (AMEX: EQX) stock jumped 2.14% on Monday to $5.24 against a previous-day closing price of $5.13. With 1.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.52 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $5.30 whereas the lowest price it dropped to was $5.07. The 52-week range on EQX shows that it touched its highest point at $5.84 and its lowest point at $2.35 during that stretch. It currently has a 1-year price target of $8.50. Beta for the stock currently stands at 0.95.

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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 10.32%, but this was up by 18.02% over a month. Three-month performance surged to 12.93% while six-month performance rose 15.42%. The stock gained 56.42% in the past year, while it has gained 59.76% so far this year. A look at the trailing 12-month EPS for EQX yields 0.04 with Next year EPS estimates of 0.27.

Float and Shares Shorts:

At present, 312.78 million EQX shares are outstanding with a float of 286.45 million shares on hand for trading. On Aug 30, 2023, short shares totaled 10.3 million, which was 3.29% higher than short shares on Jul 30, 2023. In addition to Mr. Gregory D. Smith C.A. as the firm’s CEO, Pres & Director, Mr. Peter Jeremie Hardie C.A., CPA, CA, CPA serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 48.74% 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 5.33% stake in EQX, the VanEck Gold Miners ETF is the largest stakeholder. A total of 16,673,585 shares are owned by the mutual fund manager. The VanEck Junior Gold Miners ETF, which owns about 3.52% of EQX stock, is the second-largest Mutual Fund holder. It holds 11,009,293 shares valued at 55.6 million. Kopernik Global All Cap Fund holds 2.35% of the stake in EQX, owning 7,366,879 shares worth 37.2 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 Jun 29, 2023, EQX reported revenue of $224.60M and operating income of -$3.40M. The EBITDA in the recently reported quarter was -$3.75M and diluted EPS was -$0.26.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EQX since 0 analysts follow the stock currently. 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 $6.97 and a low target of $4.81, the average target price over the next 12 months is $6.05. Based on these targets, EQX could surge 33.02% to reach the target high and fall by -8.21% to reach the target low. Reaching the average price target will result in a growth of 15.46% 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.

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