Equinox Gold (NYSEAMERICAN:EQX) Raised to “Strong-Buy” at Zacks Research

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

Other research analysts have also issued reports about the company. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Royal Bank Of Canada lowered their target price on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, Equinox Gold has a consensus rating of “Buy” and an average target price of $14.00.

Equinox Gold Trading Down 4.7%

Shares of EQX opened at $9.77 on Monday. Equinox Gold has a 1 year low of $5.61 and a 1 year high of $18.96. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $12.85 and a 200-day simple moving average of $14.24. The stock has a market cap of $7.71 billion, a PE ratio of 12.21 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last announced 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). The company had revenue of $861.59 million during 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 quarterly revenue was up 224.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. On average, sell-side analysts predict that Equinox Gold will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

Institutional investors and hedge funds have recently bought and sold shares of the business. Mcguire Capital Advisors Inc. acquired a new position in Equinox Gold in the fourth quarter worth $25,000. Aventura Private Wealth LLC acquired a new stake in shares of Equinox Gold in the fourth quarter valued at $28,000. Lodestone Wealth Management LLC acquired a new stake in shares of Equinox Gold in the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of Equinox Gold by 96.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock valued at $29,000 after buying an additional 982 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new position in shares of Equinox Gold in the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.