Cormark Upgrades Equinox Gold (NYSEAMERICAN:EQX) to Moderate Buy

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by Cormark from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities analysts also recently issued reports on EQX. BMO Capital Markets initiated coverage on Equinox Gold in a research report on Wednesday, June 18th. They issued an “outperform” rating for the company. CIBC reaffirmed a “neutral” rating on shares of Equinox Gold in a report on Tuesday, July 15th. National Bankshares reissued an “outperform” rating on shares of Equinox Gold in a report on Friday. Finally, TD Securities upgraded shares of Equinox Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Equinox Gold Trading Up 2.0%

Equinox Gold stock opened at $7.98 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. The business’s 50-day simple moving average is $6.32 and its 200-day simple moving average is $6.43. The firm has a market capitalization of $6.06 billion, a PE ratio of -132.98 and a beta of 1.10. Equinox Gold has a 52 week low of $4.95 and a 52 week high of $8.16.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 4.06%. The firm had revenue of $478.64 million during the quarter, compared to the consensus estimate of $470.00 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s revenue was up 77.7% on a year-over-year basis. Equities research analysts forecast that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Equinox Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of EQX. Donald Smith & CO. Inc. increased its holdings in Equinox Gold by 11.1% in the second quarter. Donald Smith & CO. Inc. now owns 26,507,615 shares of the company’s stock worth $152,419,000 after purchasing an additional 2,643,856 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Equinox Gold by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company’s stock worth $102,082,000 after buying an additional 1,029,738 shares in the last quarter. Maple Rock Capital Partners Inc. grew its position in shares of Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after buying an additional 7,229,260 shares during the period. L1 Capital Pty Ltd increased its stake in shares of Equinox Gold by 111.1% in the 1st quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company’s stock valued at $74,634,000 after acquiring an additional 5,710,310 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Equinox Gold by 19.0% during the 2nd quarter. Invesco Ltd. now owns 10,824,459 shares of the company’s stock valued at $62,241,000 after acquiring an additional 1,731,118 shares during the period. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Company Profile

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.