Zacks Research Downgrades Equinox Gold (NYSEAMERICAN:EQX) to Hold

Equinox Gold (NYSEAMERICAN:EQX) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on EQX. Royal Bank Of Canada decreased their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.00.

Equinox Gold Stock Up 3.2%

Shares of Equinox Gold stock opened at $9.35 on Tuesday. Equinox Gold has a 52-week low of $6.01 and a 52-week high of $18.96. The company has a 50 day moving average of $10.74 and a 200 day moving average of $13.54. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.38 billion, a P/E ratio of 11.69 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. During the same quarter last year, the firm earned ($0.08) EPS. The company’s revenue was up 224.3% on a year-over-year basis. As a group, research analysts forecast that Equinox Gold will post 1.12 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

Several institutional investors have recently modified their holdings of EQX. Mcguire Capital Advisors Inc. purchased a new position in shares of Equinox Gold in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after acquiring an additional 982 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in Equinox Gold in the fourth quarter valued at $28,000. Quarry LP lifted its position in Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after acquiring an additional 2,098 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Equinox Gold in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.