Equinox Gold (NYSEAMERICAN:EQX) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research firms have also recently commented on EQX. Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Cibc Captl Mkts downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Stifel Canada raised Equinox Gold to a “strong-buy” rating in a research report on Monday, December 1st. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. Finally, Stifel Nicolaus assumed coverage on Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Down 0.4%

NYSEAMERICAN:EQX traded down $0.07 during trading hours on Monday, hitting $14.51. 2,652,844 shares of the company traded hands, compared to its average volume of 7,483,275. 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 firm’s 50-day simple moving average is $13.61 and its 200-day simple moving average is $10.52. Equinox Gold has a one year low of $5.57 and a one year high of $15.16. The company has a market cap of $11.40 billion, a PE ratio of 289.82 and a beta of 1.25.

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

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its stake in shares of Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after purchasing an additional 45,820,861 shares during the last quarter. L1 Capital Pty Ltd increased its holdings in Equinox Gold by 120.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after buying an additional 13,060,846 shares in the last quarter. Franklin Resources Inc. raised its position in Equinox Gold by 44,440.1% in the 2nd quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock worth $59,850,000 after buying an additional 10,341,217 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its stake in Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after acquiring an additional 7,229,260 shares during the period. Finally, Ruffer LLP lifted its stake in Equinox Gold by 322.1% during the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock valued at $43,267,000 after acquiring an additional 5,722,871 shares during the period. 38.85% of the stock is owned by institutional investors.

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.