Scotiabank Downgrades Equinox Gold (NYSEAMERICAN:EQX) to Sector Perform

Scotiabank downgraded shares of Equinox Gold (NYSEAMERICAN:EQXGet Rating) from an outperform rating to a sector perform rating in a research note published on Thursday, The Fly reports.

A number of other research firms also recently commented on EQX. Zacks Investment Research upgraded Equinox Gold from a sell rating to a hold rating and set a $8.00 price objective for the company in a report on Friday, April 29th. TD Securities lowered their price target on Equinox Gold from C$14.00 to C$12.50 in a report on Wednesday, January 26th. TheStreet upgraded Equinox Gold from a c+ rating to a b rating in a report on Monday, April 4th. National Bank Financial increased their price target on Equinox Gold from C$13.00 to C$14.00 in a report on Wednesday, April 20th. Finally, Canaccord Genuity Group lowered their price target on Equinox Gold from C$10.50 to C$10.00 and set a buy rating for the company in a report on Wednesday, January 26th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Equinox Gold currently has a consensus rating of Buy and a consensus price target of $11.68.

NYSEAMERICAN EQX opened at $5.88 on Thursday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 31.26 and a beta of 1.11. The company has a quick ratio of 2.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.20. Equinox Gold has a 12 month low of $5.47 and a 12 month high of $9.55.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $381.20 million during the quarter. Equinox Gold had a return on equity of 3.73% and a net margin of 44.51%. On average, equities research analysts predict that Equinox Gold will post 0.33 EPS for the current year.

Several hedge funds have recently bought and sold shares of EQX. Norges Bank acquired a new position in shares of Equinox Gold during the fourth quarter worth about $16,924,000. Russell Investments Group Ltd. boosted its position in shares of Equinox Gold by 67.0% during the first quarter. Russell Investments Group Ltd. now owns 3,056,929 shares of the company’s stock worth $25,256,000 after buying an additional 1,225,988 shares during the period. Donald Smith & CO. Inc. boosted its position in shares of Equinox Gold by 26.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,593 shares of the company’s stock worth $30,404,000 after buying an additional 939,751 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Equinox Gold by 1,485.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 808,386 shares of the company’s stock worth $5,465,000 after buying an additional 757,392 shares during the period. Finally, Invesco Ltd. boosted its position in Equinox Gold by 15.9% during the third quarter. Invesco Ltd. now owns 4,422,023 shares of the company’s stock valued at $29,185,000 after purchasing an additional 605,249 shares during the last quarter. 35.13% of the stock is owned by institutional investors.

About Equinox Gold (Get Rating)

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

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