Equinox Gold Corp. (AMEX: EQX) – Suitable For Long Term Buy?


    With over 1.29 million Equinox Gold Corp. (EQX) shares trading Monday and a closing price of $13.14 on the day, the dollar volume was approximately $16.93 million. The shares have shown a positive weekly performance of 5.12% and its price on 08/31/20 gained nearly 1.31%. Currently, there are 241.05M common shares owned by the public and among those 213.42M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for EQX have a consensus price objective of $16.17. The analysts have set the share’s price value over the next 12 months at a high of $20.30 and a low of $10.85 should the stock experience a downside. But an upside of 35.27% will see the stock hit the forecast high price target while mean target price for the stock is $16.54.

    The top 3 mutual fund holders in Equinox Gold Corp. are VanEck Vectors – Gold Miners ETF, VanEck Vectors – Junior Gold Mine, and Vanguard Selected Value Fund. VanEck Vectors – Gold Miners ETF owns 12.84 million shares of the company’s stock, all valued at over $153.75 million. The company bought an additional 39026.0 shares recently to bring their total holdings to about 5.40% of the shares outstanding. VanEck Vectors – Junior Gold Mine bought 0.14 million shares to see its total holdings expand to 10.36 million shares valued at over $124.0 million and representing 4.35% of the shares outstanding. Vanguard Selected Value Fund sold -2.02 million shares to bring its total holdings to over 3.17 million shares at a value of $37.96 million. Vanguard Selected Value Fund now owns shares totaling to 1.33% of the shares outstanding.

    Shares of Equinox Gold Corp. (AMEX: EQX) opened at $13.00, up $0.03 from a prior closing price of $12.97. However, the script later closed the day at $13.14, up 1.31%. The company’s stock has a 5-day price change of 5.12% and 40.23% over the past three months. EQX shares are trading 70.65% year to date (YTD), with the 12-month market performance up to 115.41% higher. It has a 12-month low price of $4.63 and touched a high of $13.66 over the same period. Currently, 1.29 million shares have been traded, compared to an average intraday trading volume of 1.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.61%, 11.39%, and 48.75% respectively.

    Institutional ownership of Equinox Gold Corp. (AMEX: EQX) shares accounts for 22.12% of the company’s 241.05M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

    It has a market capitalization of $3.17B. The earnings-per-share (ttm) stands at -$0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.68% over the week and 4.20% over the month.

    Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”


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