Equinox Gold (NYSEAMERICAN:EQX) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts also recently commented on EQX. Stifel Canada upgraded Equinox Gold to a “strong-buy” rating in a report on Monday, December 1st. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Performance

Equinox Gold stock opened at $14.68 on Monday. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 293.66 and a beta of 1.25. Equinox Gold has a 12 month low of $5.57 and a 12 month high of $15.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. The stock’s 50-day moving average is $13.70 and its 200-day moving average is $10.55.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Equinox Gold by 232.7% during the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock valued at $3,843,000 after acquiring an additional 390,690 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Equinox Gold during the 1st quarter worth $6,883,000. Goldman Sachs Group Inc. raised its position in Equinox Gold by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after acquiring an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Equinox Gold by 164.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock valued at $5,367,000 after purchasing an additional 485,567 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Equinox Gold during the 2nd quarter valued at $74,000. 38.85% of the stock is owned by institutional investors.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.