TD Securities Upgrades Equinox Gold (NYSEAMERICAN:EQX) to Buy

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat reports.

Several other equities analysts have also recently commented on the stock. CIBC reiterated a “neutral” rating on shares of Equinox Gold in a research note on Tuesday. National Bank Financial raised shares of Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st. BMO Capital Markets assumed coverage on shares of Equinox Gold in a report on Wednesday, June 18th. They set an “outperform” rating for the company. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, June 13th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Equinox Gold Trading Up 1.3%

NYSEAMERICAN EQX opened at $6.28 on Wednesday. Equinox Gold has a 1-year low of $4.48 and a 1-year high of $7.45. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.75 billion, a PE ratio of 12.56 and a beta of 1.11. The firm’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.25.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.19). The business had revenue of $423.72 million for the quarter, compared to analyst estimates of $404.00 million. Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

Institutional investors have recently added to or reduced their stakes in the stock. Tobam acquired a new stake in Equinox Gold in the 1st quarter valued at $29,000. Parvin Asset Management LLC acquired a new position in shares of Equinox Gold during the 4th quarter worth about $38,000. ORG Partners LLC raised its holdings in Equinox Gold by 191.2% in the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock valued at $43,000 after acquiring an additional 4,970 shares during the period. BNP Paribas Financial Markets bought a new position in Equinox Gold in the 4th quarter valued at about $47,000. Finally, Continuum Advisory LLC raised its holdings in Equinox Gold by 53.3% in the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock valued at $52,000 after acquiring an additional 2,620 shares during the period. 38.85% of the stock is owned by institutional investors.

About Equinox Gold

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.