Equinox Gold (NYSEAMERICAN:EQX) Lowered to “Hold” Rating by Cibc Captl Mkts

Cibc Captl Mkts downgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on EQX. Stifel Nicolaus began coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They issued a “buy” rating for the company. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised Equinox Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday. Finally, Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.00.

Equinox Gold Stock Up 6.0%

Shares of EQX traded up $0.82 during midday trading on Thursday, reaching $14.56. 10,172,167 shares of the stock were exchanged, compared to its average volume of 11,203,474. The company has a market capitalization of $11.44 billion, a P/E ratio of 291.26 and a beta of 1.24. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Equinox Gold has a 52 week low of $5.59 and a 52 week high of $17.40. The company’s 50 day moving average is $14.56 and its two-hundred day moving average is $11.55.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data 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 net margin of 2.71% and a return on equity of 5.57%. The company had revenue of $819.01 million during the quarter, compared to analyst estimates of $607.81 million. Equinox Gold’s revenue for the quarter was up 91.2% on a year-over-year basis. On average, sell-side analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Trading of Equinox Gold

Several large investors have recently added to or reduced their stakes in EQX. Royal Bank of Canada grew its stake in shares of Equinox Gold by 232.7% during the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after purchasing an additional 390,690 shares during the period. Millennium Management LLC acquired a new stake in Equinox Gold during the first quarter valued at $6,883,000. Goldman Sachs Group Inc. grew its position in Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock valued at $12,812,000 after buying an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Equinox Gold by 164.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock valued at $5,367,000 after buying an additional 485,567 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Equinox Gold in the second quarter worth about $76,000. 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.