On April 10, 2023 at 10:12:31 ET an unusually large $446.00K block of Call contracts in Equinox Gold (EQX) was bought, with a strike price of $12.50 / share, expiring in 284 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.53 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in EQX options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 10.47% Upside

As of April 6, 2023, the average one-year price target for Equinox Gold is $6.12. The forecasts range from a low of $6.06 to a high of $6.30. The average price target represents an increase of 10.47% from its latest reported closing price of $5.54.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Equinox Gold is $1,096MM. The projected annual non-GAAP EPS is -$0.17.

What is the Fund Sentiment?

There are 229 funds or institutions reporting positions in Equinox Gold. This is an increase of 19 owner(s) or 9.05% in the last quarter. Average portfolio weight of all funds dedicated to EQX is 0.20%, an increase of 7.40%. Total shares owned by institutions increased in the last three months by 6.19% to 152,361K shares. The put/call ratio of EQX is 0.14, indicating a bullish outlook.

What are Large Shareholders Doing?

Van Eck Associates holds 29,083K shares representing 9.32% ownership of the company. In it’s prior filing, the firm reported owning 30,692K shares, representing a decrease of 5.53%. The firm decreased its portfolio allocation in EQX by 26.07% over the last quarter.

GDX – VanEck Vectors Gold Miners ETF holds 15,811K shares representing 5.07% ownership of the company. In it’s prior filing, the firm reported owning 15,653K shares, representing an increase of 0.99%. The firm decreased its portfolio allocation in EQX by 28.87% over the last quarter.

GDXJ – VanEck Vectors Junior Gold Miners ETF holds 10,662K shares representing 3.42% ownership of the company. In it’s prior filing, the firm reported owning 11,741K shares, representing a decrease of 10.13%. The firm decreased its portfolio allocation in EQX by 34.38% over the last quarter.

KGGAX – KOPERNIK GLOBAL ALL-CAP FUND SHARES holds 7,695K shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 8,038K shares, representing a decrease of 4.46%. The firm increased its portfolio allocation in EQX by 22.02% over the last quarter.

Sprott holds 7,135K shares representing 2.29% ownership of the company. In it’s prior filing, the firm reported owning 5,832K shares, representing an increase of 18.26%. The firm decreased its portfolio allocation in EQX by 2.96% over the last quarter.

Equinox Gold Background Information
(This description is provided by the company.)

Equinox Gold is a Canadian mining company with seven operating gold mines, construction underway at an eighth site, a multi-million-ounce gold reserve base and a clear path to achieve one million ounces of annual gold production from its pipeline of growth projects. Equinox Gold operates entirely in the Americas, with two properties in the United States, one in Mexico and five in Brazil. On December 16, 2020, Equinox Gold announced its friendly acquisition of Premier Gold Mines, which will bring further diversification and scale with the addition of a producing mine in Mexico and a construction-ready project in Ontario, Canada.

This article originally appeared on Fintel

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