If actions truly speak louder than words, investors may want to rethink the precious metals complex, especially in light of the dramatic rise in interest toward Equinox Gold (EQX). True, names like EQX stock don’t often generate holistic excitement. First, the underlying gold asset is merely a commodity. Second, mining the asset can be a volatile endeavor. Nevertheless, options traders seem enthused about Equinox’s prospects.
In the past five sessions, EQX stock gained nearly 7% of equity value. In the trailing month, it returned stakeholders just under 36%. And since the beginning of the year, shares shot up over 53%. Despite the robust momentum, it’s relatively undervalued. In the trailing year, EQX actually slipped almost 36%. Amid concerns about the direction of monetary policy, it wouldn’t be out of the question for the gold producer to keep running higher.
