Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives Average Recommendation of “Buy” from Analysts

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been assigned a consensus rating of “Buy” from the eleven research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.00.

Several analysts recently commented on EQX shares. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Cibc Captl Mkts cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Stifel Nicolaus assumed coverage on Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, CIBC raised Equinox Gold from a “neutral” rating to an “outperform” rating in a report on Wednesday.

Equinox Gold Stock Performance

EQX opened at $15.24 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Equinox Gold has a 12-month low of $5.59 and a 12-month high of $17.40. The business has a 50 day moving average of $14.56 and a 200-day moving average of $11.53. The stock has a market cap of $11.97 billion, a price-to-earnings ratio of 304.86 and a beta of 1.24.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The business had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. Equinox Gold’s revenue was up 91.2% compared to the same quarter last year. On average, equities research analysts expect that Equinox Gold will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds have recently bought and sold shares of the business. Ruffer LLP boosted its holdings in shares of Equinox Gold by 15.4% in the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after purchasing an additional 1,152,288 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Equinox Gold during the 3rd quarter worth $6,991,000. Maple Rock Capital Partners Inc. boosted its stake in Equinox Gold by 102.1% in the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after buying an additional 7,229,260 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after acquiring an additional 390,000 shares during the last quarter. Finally, All Terrain Financial Advisors LLC bought a new position in Equinox Gold in the second quarter valued at about $498,000. 38.85% of the stock is owned by institutional investors.

About Equinox Gold

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.