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Equinox Gold Corp.’s (AMEX: EQX) Stock’s Potential for Future Price Increase

In the latest trading session, 2.95 million Equinox Gold Corp. (AMEX:EQX) shares changed hands as the company’s beta touched 0.95. With the company’s most recent per share price at $4.37 changed hands at -$0.87 or -16.60% at last look, the market valuation stands at $1.32B. EQX’s current price is a discount, trading about -33.64% off its 52-week high of $5.84. The share price had its 52-week low at $2.35, which suggests the last value was 46.22% up since then. When we look at Equinox Gold Corp.’s average trading volume, we note the 10-day average is 1.38 million shares, with the 3-month average coming to 1.47 million.

Analysts gave the Equinox Gold Corp. (EQX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 3.00. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended EQX as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Equinox Gold Corp.’s EPS for the current quarter is expected to be $0.

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Equinox Gold Corp. (AMEX:EQX) trade information

Instantly EQX was in red as seen in intraday trades today. With action -9.90%, the performance over the past five days has been red. The drop to weekly highs of 5.30 on Monday, 09/18/23 subtracted -16.60% to the stock’s daily price. The company’s shares are showing year-to-date upside of 33.23%, with the 5-day performance at -9.90% in the red. However, in the 30-day time frame, Equinox Gold Corp. (AMEX:EQX) is -3.96% down. Looking at the short shares, we see there were 10.3 million shares sold at short interest cover period of 7.43 days.

The consensus price target for the stock as assigned by Wall Street analysts is $6.06, meaning bulls need an upside of 27.89% from its recent market value. According to analyst projections, EQX’s forecast low is $4.81 with $6.97 as the target high. To hit the forecast high, the stock’s price needs a -59.5% plunge from its current level, while the stock would need to soar -10.07% for it to hit the projected low.

Equinox Gold Corp. (EQX) estimates and forecasts

Data shows that the Equinox Gold Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -3.96% over the past 6 months, a 90.00% in annual growth rate that is considerably higher than the industry average of 19.10%. Year-over-year growth is forecast to reach -12.00% down from the last financial year.

Consensus estimates given by 0 financial analysts project the company’s revenue in the current quarter to hit an average of $245.1 million. 0 analysts are of the opinion that Equinox Gold Corp.’s revenue for the quarter ending Dec 2022 will be $259.3 million. The company’s revenue for the corresponding quarters a year ago was $245.13 million and $381.2 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -0.00%. The estimates for the next quarter sales put growth at -32.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 3.30%. The 2023 estimates are for Equinox Gold Corp. earnings to decrease by -121.00%.

EQX Dividends

Equinox Gold Corp. is expected to release its next quarterly earnings report between October 31 and November 06.

Equinox Gold Corp. (AMEX:EQX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 8.47% of Equinox Gold Corp. shares while 48.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.25%. There are 48.74% institutions holding the Equinox Gold Corp. stock share, with Van Eck Associates Corporation the top institutional holder. As of Jun 29, 2023, the company held 9.51% of the shares, roughly 29.75 million EQX shares worth $129.15 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 2.98% or 9.33 million shares worth $40.49 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. With 16.81 million shares estimated at $72.98 million under it, the former controlled 5.37% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Junior Gold Miners ETF held about 3.52% of the shares, roughly 11.02 million shares worth around $47.84 million.

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