Equinox Gold (NYSEAMERICAN:EQX) Upgraded by Zacks Research to “Strong-Buy” Rating

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on EQX. Royal Bank Of Canada decreased their price target on Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, June 8th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, Equinox Gold has an average rating of “Buy” and an average target price of $14.00.

Equinox Gold Trading Down 4.7%

Equinox Gold stock opened at $9.77 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 12.21 and a beta of 1.18. Equinox Gold has a 1 year low of $5.61 and a 1 year high of $18.96. The firm’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $14.24.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. Equinox Gold’s revenue was up 224.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.08) EPS. On average, research analysts predict that Equinox Gold will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Equinox Gold

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after buying an additional 45,820,861 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Equinox Gold by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock valued at $431,665,000 after acquiring an additional 3,250,135 shares during the last quarter. FIL Ltd bought a new position in shares of Equinox Gold in the fourth quarter valued at approximately $332,888,000. Maple Rock Capital Partners Inc. raised its holdings in Equinox Gold by 21.6% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock worth $284,152,000 after acquiring an additional 3,589,200 shares during the period. Finally, L1 Capital Pty Ltd increased its stake in shares of Equinox Gold by 15.9% in the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock worth $283,110,000 after purchasing an additional 2,768,141 shares during the period. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile

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.