Zacks Research Upgrades Equinox Gold (NYSEAMERICAN:EQX) to “Hold”

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

Several other equities research analysts have also commented on EQX. Cormark upgraded shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. National Bankshares reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 15th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada raised Equinox Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $11.00 to $17.00 in a report on Wednesday, September 10th. Finally, Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Equinox Gold currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Stock Performance

NYSEAMERICAN EQX traded down $0.23 during trading hours on Thursday, hitting $12.75. 9,799,136 shares of the stock were exchanged, compared to its average volume of 12,591,737. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 255.05 and a beta of 1.11. Equinox Gold has a 12-month low of $4.95 and a 12-month high of $13.53. The stock has a 50-day moving average of $11.25 and a 200 day moving average of $8.30.

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

Institutional Trading of Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. American Capital Advisory LLC acquired a new stake in Equinox Gold during the second quarter worth about $25,000. SBI Securities Co. Ltd. grew its stake in shares of Equinox Gold by 2,054.6% during the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after acquiring an additional 4,479 shares in the last quarter. ORG Partners LLC raised its position in shares of Equinox Gold by 191.2% in the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock valued at $43,000 after purchasing an additional 4,970 shares in the last quarter. Smithfield Trust Co acquired a new stake in Equinox Gold in the third quarter valued at $43,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Equinox Gold during the second quarter worth about $58,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

About Equinox Gold

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.