Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Has Consensus Target Price of $14.00

Equinox Gold Corp. (NYSEAMERICAN:EQX) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $14.00.

EQX has been the subject of several analyst reports. Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th. Royal Bank Of Canada upped their price objective on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. Finally, TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th.

Equinox Gold Stock Up 2.1%

EQX stock opened at $11.52 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 11.52 and a beta of 1.33. Equinox Gold has a twelve month low of $8.48 and a twelve month high of $18.96. The business has a 50 day moving average price of $11.45 and a two-hundred day moving average price of $12.67.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $769.80 million during the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. Analysts anticipate that Equinox Gold will post 0.95 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Equinox Gold by 1.2% during the first quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock valued at $1,346,000 after purchasing an additional 1,075 shares in the last quarter. Net Worth Advisory Group increased its holdings in Equinox Gold by 5.4% during the third quarter. Net Worth Advisory Group now owns 21,259 shares of the company’s stock valued at $230,000 after buying an additional 1,090 shares during the period. Terril Brothers Inc. boosted its stake in Equinox Gold by 6.2% during the 3rd quarter. Terril Brothers Inc. now owns 47,750 shares of the company’s stock worth $531,000 after purchasing an additional 2,800 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Equinox Gold by 1,427.1% during the third quarter. IFP Advisors Inc now owns 3,039 shares of the company’s stock worth $34,000 after purchasing an additional 2,840 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.