Brokerages Set Equinox Gold Corp. (NYSEAMERICAN:EQX) Target Price at $26.00

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have received an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of equities research analysts have recently commented on EQX shares. BMO Capital Markets started coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They issued an “outperform” rating for the company. National Bankshares reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 15th. CIBC reiterated a “neutral” rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, TD Securities reiterated a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently bought and sold shares of EQX. BNP Paribas Financial Markets acquired a new stake in Equinox Gold during the fourth quarter worth about $47,000. Bank of America Corp DE increased its position in Equinox Gold by 134.2% during the fourth quarter. Bank of America Corp DE now owns 327,058 shares of the company’s stock worth $1,642,000 after purchasing an additional 187,432 shares during the last quarter. Cetera Investment Advisers acquired a new stake in Equinox Gold during the fourth quarter worth about $95,000. Deutsche Bank AG increased its position in Equinox Gold by 67.1% during the fourth quarter. Deutsche Bank AG now owns 39,222 shares of the company’s stock worth $197,000 after purchasing an additional 15,749 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Equinox Gold by 2.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock worth $691,000 after purchasing an additional 3,826 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $10.93 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. The company has a fifty day moving average of $8.70 and a two-hundred day moving average of $7.24. The stock has a market capitalization of $8.56 billion, a PE ratio of -182.14 and a beta of 1.14. Equinox Gold has a fifty-two week low of $4.95 and a fifty-two week high of $11.52.

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

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.