Equinox Gold (NYSEAMERICAN:EQX) Rating Increased to Moderate Buy at Cormark

Cormark upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a moderate buy rating in a report issued on Friday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets started coverage on Equinox Gold in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Friday. CIBC reaffirmed a “neutral” rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, TD Securities raised Equinox Gold from a “hold” rating to a “buy” rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $7.98 on Friday. Equinox Gold has a 52 week low of $4.95 and a 52 week high of $8.16. The business’s fifty day simple moving average is $6.32 and its 200-day simple moving average is $6.42. The firm has a market cap of $6.06 billion, a PE ratio of -132.98 and a beta of 1.10. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.38.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. Equinox Gold had a positive return on equity of 4.06% and a negative net margin of 1.21%. The firm had revenue of $478.64 million for the quarter, compared to analyst estimates of $470.00 million. During the same quarter in the prior year, the company earned ($0.01) EPS. Equinox Gold’s revenue was up 77.7% on a year-over-year basis. Equities analysts forecast that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Trading of Equinox Gold

A number of institutional investors have recently modified their holdings of the business. Veracity Capital LLC grew its position in shares of Equinox Gold by 14.2% in the first quarter. Veracity Capital LLC now owns 12,589 shares of the company’s stock valued at $87,000 after purchasing an additional 1,564 shares during the period. Rathbones Group PLC grew its position in shares of Equinox Gold by 1.7% in the first quarter. Rathbones Group PLC now owns 108,129 shares of the company’s stock valued at $743,000 after purchasing an additional 1,825 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Equinox Gold by 2.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 86,161 shares of the company’s stock valued at $592,000 after acquiring an additional 1,990 shares during the period. Kohmann Bosshard Financial Services LLC increased its stake in Equinox Gold by 5.6% during the second quarter. Kohmann Bosshard Financial Services LLC now owns 38,000 shares of the company’s stock worth $218,000 after acquiring an additional 2,000 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in Equinox Gold by 13.2% during the second quarter. TD Waterhouse Canada Inc. now owns 17,923 shares of the company’s stock worth $103,000 after acquiring an additional 2,091 shares during the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Company Profile

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.