Equinox Gold (NYSEAMERICAN:EQX) Downgraded to “Strong Sell” Rating by Zacks Research

Equinox Gold (NYSEAMERICAN:EQX) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Royal Bank Of Canada upgraded shares of Equinox Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $11.00 to $17.00 in a research report on Wednesday, September 10th. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. National Bankshares restated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 15th. CIBC restated a “neutral” rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, BMO Capital Markets assumed coverage on shares of Equinox Gold in a report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Price Performance

Shares of Equinox Gold stock opened at $12.72 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of -211.96 and a beta of 1.14. Equinox Gold has a 1-year low of $4.95 and a 1-year high of $12.93. The firm’s 50-day moving average price is $9.80 and its two-hundred day moving average price is $7.57.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. The company had revenue of $478.64 million for the quarter, compared to analyst estimates of $470.00 million. During the same period in the prior year, the business earned ($0.01) earnings per share. Equinox Gold’s quarterly revenue was up 77.7% on a year-over-year basis. On average, equities analysts predict that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new position in Equinox Gold in the second quarter valued at $25,000. SBI Securities Co. Ltd. grew its position in Equinox Gold by 2,054.6% in the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after purchasing an additional 4,479 shares in the last quarter. ORG Partners LLC grew its position in Equinox Gold by 191.2% in the second quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock valued at $43,000 after purchasing an additional 4,970 shares in the last quarter. Continuum Advisory LLC grew its position in Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock valued at $52,000 after purchasing an additional 2,620 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in Equinox Gold in the second quarter valued at $58,000. 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.