Equinox Gold Corp. [EQX] fell -49.11% so far this year. What now?

Equinox Gold Corp. [AMEX: EQX] surged by $0.13 during the normal trading session on Tuesday and reaching a high of $3.55 during the day while it closed the day at $3.44. The company report on November 21, 2022 that Equinox Gold Announces At-the-Market Offering, Files Base Shelf Prospectus.


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Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox Gold” or the “Company”) announces that it has entered into an equity distribution agreement dated November 21, 2022 (the “Equity Distribution Agreement”) providing for an at-the-market equity offering program (“ATM”) with BMO Capital Markets (“BMO”) and National Bank Financial (“NBF”), and their respective affiliates (collectively, the “Agents”).

The ATM will allow Equinox Gold, through the Agents, to offer and sell from time to time in Canada and the United States through the facilities of the Toronto Stock Exchange (“TSX”) and the NYSE American (“NYSE-A”) such number of common shares as would have an aggregate offering price of up to US$100 million. Sales of the common shares, if any, will be made in transactions that are deemed to be “at-the-market distributions” as defined in National Instrument 44-102 – Shelf Distributions and an “at-the-market offering” as defined in Rule 415 under the United States Securities Act of 1933, as amended, including sales made by the Agents directly on the TSX, the NYSE-A or any other trading market for common shares in Canada or the United States or as otherwise agreed between the Agents and the Company. The common shares that may be issued by the Company under the ATM have been conditionally approved for listing on the TSX and have been approved for listing on the NYSE-A.

Equinox Gold Corp. stock has also loss -7.03% of its value over the past 7 days. However, EQX stock has declined by -12.47% in the 3 months of the year. Over the past six months meanwhile, it has lost -41.79% and lost -49.11% year-on date.

The market cap for EQX stock reached $1.03 billion, with 304.98 million shares outstanding and 280.60 million shares in the current float. Compared to the average trading volume of 2.38M shares, EQX reached a trading volume of 3673093 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $4.00 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 3.00. 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.

RBC Capital Mkts have made an estimate for Equinox Gold Corp. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 25, 2022. The new note on the price target was released on January 26, 2022, representing the official price target for Equinox Gold Corp. stock.

The Average True Range (ATR) for Equinox Gold Corp. is set at 0.25, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 0.46.

EQX stock trade performance evaluation

Equinox Gold Corp. [EQX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.03. With this latest performance, EQX shares gained by 4.24% in over the last four-week period, additionally sinking by -41.79% over the last 6 months – not to mention a drop of -55.38% 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 51.43, with the RSI for the last a single of trading hit 52.15, and the three-weeks RSI is set at 50.43 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 3.39, while it was recorded at 3.40 for the last single week of trading, and 5.25 for the last 200 days.

Equinox Gold Corp. [EQX]: An insightful look at the core fundamentals

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 -0.10 and a Current Ratio set at 2.70.

Equinox Gold Corp. [EQX]: Insider Ownership positions

There are presently around $319 million, or 46.60% 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 30,692,316, which is approximately -5.962% of the company’s market cap and around 8.02% of the total institutional ownership; VANGUARD GROUP INC, holding 8,669,077 shares of the stock with an approximate value of $29.82 million in EQX stocks shares; and SPROTT INC., currently with $20.06 million in EQX stock with ownership of nearly -3.74% of the company’s market capitalization.

Positions in Equinox Gold Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 56 institutional holders increased their position in Equinox Gold Corp. [AMEX:EQX] by around 5,744,839 shares. Additionally, 76 investors decreased positions by around 6,799,379 shares, while 25 investors held positions by with 80,123,122 shares. The mentioned changes placed institutional holdings at 92,667,340 shares, according to the latest SEC report filing. EQX stock had 14 new institutional investments in for a total of 246,500 shares, while 25 institutional investors sold positions of 1,088,948 shares during the same period.

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