Equinox Gold (NYSEAMERICAN:EQX) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Equinox Gold (NYSEAMERICAN:EQXGet Rating) from a sell rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.

According to Zacks, “Equinox Gold Corp. engages in the acquisition, exploration and development of mineral deposits. It primarily explores for gold, copper and silver deposits. The company’s principal properties include the Aurizona gold mine in Maranhão State Brazil and the Mesquite gold mine, in California, the United States. Equinox Gold Corp. is headquartered in Vancouver, Canada. “

Several other research analysts have also issued reports on EQX. TD Securities dropped their target price on Equinox Gold from C$14.00 to C$12.50 in a research report on Wednesday, January 26th. Desjardins downgraded Equinox Gold from a buy rating to a hold rating in a research report on Wednesday, January 26th. Scotiabank lifted their target price on Equinox Gold from C$11.50 to C$12.25 in a research report on Tuesday, April 19th. TheStreet upgraded shares of Equinox Gold from a c+ rating to a b rating in a report on Monday, April 4th. Finally, National Bank Financial boosted their price objective on shares of Equinox Gold from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $12.19.

NYSEAMERICAN:EQX opened at $7.13 on Friday. The company has a market capitalization of $2.15 billion, a PE ratio of 5.09 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.89 and a quick ratio of 2.39. Equinox Gold has a 1 year low of $5.47 and a 1 year high of $9.55.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.04. The business had revenue of $381.20 million for the quarter. Equinox Gold had a net margin of 44.51% and a return on equity of 3.73%. Research analysts expect that Equinox Gold will post 0.33 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in shares of Equinox Gold by 55.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,938 shares of the company’s stock worth $34,000 after buying an additional 1,756 shares during the last quarter. CWM LLC acquired a new position in Equinox Gold during the 4th quarter valued at about $39,000. Fermata Advisors LLC purchased a new stake in Equinox Gold in the first quarter valued at about $91,000. Magnolia Capital Advisors LLC acquired a new stake in Equinox Gold in the third quarter worth about $79,000. Finally, Advisor Resource Council grew its stake in shares of Equinox Gold by 20,355.6% during the third quarter. Advisor Resource Council now owns 12,887 shares of the company’s stock worth $85,000 after acquiring an additional 12,824 shares during the last quarter. 32.43% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile (Get Rating)

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the Fazenda gold mine located in Bahia State; the RDM gold mine located in Minas Gerais State; and the Santa Luz gold mine located in Bahia State, Brazil.

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