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 report report published on Tuesday,Zacks.com reports.

Several other brokerages also recently commented on EQX. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Cibc Captl Mkts cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce raised Equinox Gold from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Equinox Gold presently has a consensus rating of “Buy” and an average price target of $17.00.

Equinox Gold Trading Down 7.8%

Shares of Equinox Gold stock opened at $15.06 on Tuesday. 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 business has a fifty day simple moving average of $14.72 and a two-hundred day simple moving average of $11.86. Equinox Gold has a 1 year low of $5.59 and a 1 year high of $17.40. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 301.26 and a beta of 1.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ruffer LLP lifted its position in shares of Equinox Gold by 15.4% during the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after acquiring an additional 1,152,288 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Equinox Gold during the third quarter valued at approximately $6,991,000. Maple Rock Capital Partners Inc. grew its position in Equinox Gold by 102.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after purchasing an additional 7,229,260 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after buying an additional 390,000 shares in the last quarter. Finally, All Terrain Financial Advisors LLC acquired a new position in shares of Equinox Gold during the second quarter valued at about $498,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.