Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Has Consensus Target Price of $14.00

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.00.

A number of analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. TD Securities restated a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 21st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th.

Equinox Gold Stock Up 12.8%

NYSEAMERICAN:EQX opened at $11.28 on Friday. The stock’s fifty day moving average price is $11.53 and its two-hundred day moving average price is $12.71. Equinox Gold has a 52-week low of $8.48 and a 52-week high of $18.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 12.05 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share. On average, analysts anticipate that Equinox Gold will post 1.00 EPS for the current year.

Institutional Trading of Equinox Gold

Several institutional investors and hedge funds have recently made changes to their positions in EQX. Van ECK Associates Corp boosted its stake in shares of Equinox Gold by 2.8% in the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock valued at $849,875,000 after buying an additional 2,355,044 shares during the period. Deutsche Bank AG bought a new position in Equinox Gold during the 2nd quarter worth $82,981,000. Amundi increased its stake in Equinox Gold by 25.2% during the 2nd quarter. Amundi now owns 5,307,103 shares of the company’s stock worth $51,585,000 after acquiring an additional 1,067,139 shares during the period. Euro Pacific Asset Management LLC raised its holdings in Equinox Gold by 67.1% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,185,305 shares of the company’s stock valued at $46,495,000 after acquiring an additional 1,680,772 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Equinox Gold in the 2nd quarter valued at $40,220,000. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.