Equinox Gold Corp. [EQX] Revenue clocked in at $953.69 million, down -8.73% YTD: What’s Next?

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Equinox Gold Corp. [AMEX: EQX] loss -14.19% or -1.02 points to close at $6.17 with a heavy trading volume of 6632823 shares. The company report on May 4, 2022 that Equinox Gold Announces Results from Annual General Meeting.

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Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) is pleased to announce that Equinox Gold shareholders approved all matters voted on at the annual general meeting held earlier today including the election of management’s nominees as directors, the appointment of KPMG LLP as the Company’s independent auditor, acceptance of amendments to the Company’s restricted share unit plan, and acceptance of the Company’s approach to executive compensation (“Say on Pay”). Each of the matters voted on at the meeting are described in detail in the Company’s Management Information Circular dated March 22, 2022, which is available on the Company’s website at www.equinoxgold.com. A total of 173,005,971 common shares were represented at the meeting, being 57.16% of the Company’s issued and outstanding common shares.

It opened the trading session at $6.48, the shares rose to $6.58 and dropped to $5.91, the range by which the price of stock traded the whole day. The daily chart for EQX points out that the company has recorded -16.62% loss over the past six months. However, it is still -12.8% lower than its most recent low trading price.

If we look at the average trading volume of 2.28M shares, EQX reached to a volume of 6632823 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Equinox Gold Corp. [EQX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQX shares is $13.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Desjardins have made an estimate for Equinox Gold Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 26, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on June 02, 2021, representing the official price target for Equinox Gold Corp. stock.

The Average True Range (ATR) for Equinox Gold Corp. is set at 0.42, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 1.76.

Trading performance analysis for EQX stock

Equinox Gold Corp. [EQX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.36. With this latest performance, EQX shares dropped by -28.17% in over the last four-week period, additionally sinking by -16.62% over the last 6 months – not to mention a drop of -23.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQX stock in for the last two-week period is set at 26.37, with the RSI for the last a single of trading hit 19.91, and the three-weeks RSI is set at 32.20 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 7.88, while it was recorded at 6.97 for the last single week of trading, and 7.15 for the last 200 days.

Equinox Gold Corp. [EQX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Equinox Gold Corp. [EQX] shares currently have an operating margin of +14.20 and a Gross Margin at +19.69. Equinox Gold Corp.’s Net Margin is presently recorded at +51.27.

Return on Equity for this stock inclined to 27.23, with Return on Assets sitting at 16.53.

Equinox Gold Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.90.

An analysis of insider ownership at Equinox Gold Corp. [EQX]

There are presently around $646 million, or 45.10% of EQX stock, in the hands of institutional investors. The top three institutional holders of EQX stocks are: VAN ECK ASSOCIATES CORP with ownership of 30,776,762, which is approximately -5.392% of the company’s market cap and around 14.27% of the total institutional ownership; VANGUARD GROUP INC, holding 8,027,044 shares of the stock with an approximate value of $57.71 million in EQX stocks shares; and SPROTT INC., currently with $37.52 million in EQX stock with ownership of nearly 11.426% of the company’s market capitalization.

Positions in Equinox Gold Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 71 institutional holders increased their position in Equinox Gold Corp. [AMEX:EQX] by around 9,569,831 shares. Additionally, 64 investors decreased positions by around 4,447,657 shares, while 37 investors held positions by with 75,814,360 shares. The mentioned changes placed institutional holdings at 89,831,848 shares, according to the latest SEC report filing. EQX stock had 27 new institutional investments in for a total of 1,515,506 shares, while 10 institutional investors sold positions of 520,022 shares during the same period.