Equinox Gold (NYSEAMERICAN:EQX) Upgraded at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Several other brokerages also recently commented on EQX. Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. CIBC raised shares of Equinox Gold from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Finally, Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $17.00.

Equinox Gold Price Performance

EQX stock opened at $13.74 on Tuesday. The stock has a market cap of $10.79 billion, a PE ratio of 274.85 and a beta of 1.24. Equinox Gold has a 12 month low of $5.59 and a 12 month high of $17.40. The company has a 50-day moving average price of $14.56 and a 200 day moving average price of $11.55. 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 (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. The business had revenue of $819.01 million during the quarter, compared to the consensus estimate of $607.81 million. The business’s revenue was up 91.2% on a year-over-year basis. Equities research analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EQX. Van ECK Associates Corp boosted its position in shares of Equinox Gold by 91.3% during the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after purchasing an additional 45,820,861 shares during the period. L1 Capital Pty Ltd lifted its stake in Equinox Gold by 120.4% during the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after purchasing an additional 13,060,846 shares in the last quarter. Franklin Resources Inc. lifted its stake in Equinox Gold by 44,440.1% during the second quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock worth $59,850,000 after purchasing an additional 10,341,217 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its position in shares of Equinox Gold by 102.1% during the second 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. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Equinox Gold in the third quarter valued at $40,600,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.