Equinox Gold (NYSEAMERICAN:EQX) Raised to Hold at Zacks Research

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

EQX has been the subject of a number of other research reports. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Stifel Nicolaus began coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Equinox Gold has an average rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $16.34 on Tuesday. The firm has a market cap of $12.84 billion, a P/E ratio of 326.87 and a beta of 1.24. The business’s 50 day moving average is $14.70 and its 200-day moving average is $11.84. 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 1-year low of $5.59 and a 1-year high of $17.40.

Institutional Trading of Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Equinox Gold by 70.5% during the 4th quarter. Empowered Funds LLC now owns 59,353 shares of the company’s stock worth $833,000 after acquiring an additional 24,552 shares in the last quarter. Deutsche Bank AG lifted its stake in Equinox Gold by 27.6% during the fourth quarter. Deutsche Bank AG now owns 3,824,421 shares of the company’s stock worth $53,695,000 after purchasing an additional 826,407 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Equinox Gold by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock valued at $174,928,000 after purchasing an additional 603,803 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of Equinox Gold by 47.1% in the 4th quarter. Erste Asset Management GmbH now owns 96,200 shares of the company’s stock valued at $1,344,000 after purchasing an additional 30,800 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Equinox Gold in the 4th quarter valued at $1,450,000. 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.