Equinox Gold (NYSEAMERICAN:EQX) Upgraded at Zacks Research

Zacks Research upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a strong sell rating to a hold rating in a research note released on Thursday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. National Bankshares reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 15th. Royal Bank Of Canada raised Equinox Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $11.00 to $17.00 in a research note on Wednesday, September 10th. Finally, Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Equinox Gold has an average rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $12.75 on Thursday. The company has a 50-day moving average of $11.25 and a 200-day moving average of $8.31. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 255.05 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Equinox Gold has a twelve month low of $4.95 and a twelve month high of $13.53.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $819.01 million during the quarter, compared to analyst estimates of $607.81 million. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. The firm’s quarterly revenue was up 91.2% on a year-over-year basis. Analysts forecast that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently bought and sold shares of EQX. American Capital Advisory LLC purchased a new position in Equinox Gold during the second quarter valued at approximately $25,000. SBI Securities Co. Ltd. boosted its stake in shares of Equinox Gold by 2,054.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after buying an additional 4,479 shares during the period. ORG Partners LLC boosted its stake in shares of Equinox Gold by 191.2% during the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock valued at $43,000 after buying an additional 4,970 shares during the period. Smithfield Trust Co purchased a new position in shares of Equinox Gold during the 3rd quarter valued at $43,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Equinox Gold in the second quarter worth $58,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.