Cibc Captl Mkts Downgrades Equinox Gold (NYSEAMERICAN:EQX) to Hold

Equinox Gold (NYSEAMERICAN:EQX) was downgraded by investment analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

EQX has been the subject of a number of other research reports. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Zacks Research lowered Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Stifel Nicolaus initiated coverage on Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “neutral” rating to an “outperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $14.56 on Thursday. Equinox Gold has a 12 month low of $5.59 and a 12 month high of $17.40. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 291.26 and a beta of 1.24. The company’s 50 day moving average is $14.58 and its two-hundred day moving average is $11.60. 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 posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equinox Gold’s revenue was up 91.2% on a year-over-year basis. As a group, research analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rathbones Group PLC increased its position in Equinox Gold by 9.2% in the fourth quarter. Rathbones Group PLC now owns 79,231 shares of the company’s stock worth $1,115,000 after purchasing an additional 6,705 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Equinox Gold in the 4th quarter worth $39,000. PNC Financial Services Group Inc. increased its holdings in shares of Equinox Gold by 4.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 105,614 shares of the company’s stock worth $1,483,000 after buying an additional 4,810 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Equinox Gold by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,067 shares of the company’s stock valued at $183,000 after buying an additional 1,003 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Equinox Gold by 0.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock valued at $2,680,000 after acquiring an additional 795 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

About Equinox Gold

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.