Equinox Gold Corp. [EQX] fell -47.93% so far this year. What now?

Equinox Gold Corp. [AMEX: EQX] price plunged by -2.76 percent to reach at -$0.1. The company report on December 6, 2022 that Equinox Gold Announces Sale of Solaris Resources Shares for C$70.4 Million.

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Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) announces that it has sold an aggregate 11,000,000 common shares of Solaris Resources Inc. (TSX: SLS) (“Solaris”) in the ordinary course for investment purposes through the facilities of the Toronto Stock Exchange through block trades (the “Transaction”) for aggregate gross proceeds of C$70.4 million.

Equinox Gold will be filing an early warning report under National Instrument 62-103 in connection with the sale of the Solaris shares, a copy of which will be available under Solaris’ profile on SEDAR at www.sedar.com.

A sum of 2204042 shares traded at recent session while its average daily volume was at 2.44M shares. Equinox Gold Corp. shares reached a high of $3.55 and dropped to a low of $3.38 until finishing in the latest session at $3.52.

The one-year EQX stock forecast points to a potential upside of 36.0. The average equity rating for EQX stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $5.50 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 0.21, with the Price to Sales ratio for EQX stock in the period of the last 12 months amounting to 1.36. The Price to Book ratio for the last quarter was 0.34.

EQX Stock Performance Analysis:

Equinox Gold Corp. [EQX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.86. With this latest performance, EQX shares gained by 2.33% in over the last four-week period, additionally sinking by -31.91% over the last 6 months – not to mention a drop of -46.75% 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 49.59, with the RSI for the last a single of trading hit 48.22, and the three-weeks RSI is set at 49.99 for Equinox Gold Corp. [EQX]. The present Moving Average for the last 50 days of trading for this stock 3.42, while it was recorded at 3.52 for the last single week of trading, and 4.90 for the last 200 days.

Insight into Equinox Gold Corp. 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 Position Details

There are presently around $326 million, or 46.33% 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 $30.52 million in EQX stocks shares; and SPROTT INC., currently with $20.53 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, 77 investors decreased positions by around 6,799,679 shares, while 24 investors held positions by with 80,122,522 shares. The mentioned changes placed institutional holdings at 92,667,040 shares, according to the latest SEC report filing. EQX stock had 14 new institutional investments in for a total of 246,500 shares, while 26 institutional investors sold positions of 1,089,248 shares during the same period.


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