Equinox Gold (NYSEAMERICAN:EQX) Given New $14.00 Price Target at Royal Bank Of Canada

Equinox Gold (NYSEAMERICAN:EQX) had its target price increased by research analysts at Royal Bank Of Canada from $13.00 to $14.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 17.70% from the stock’s previous close.

EQX has been the topic of a number of other research reports. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.00.

Equinox Gold Stock Up 0.3%

EQX traded up $0.04 during trading hours on Wednesday, hitting $11.89. 5,110,929 shares of the company’s stock were exchanged, compared to its average volume of 11,585,648. The firm has a 50 day moving average of $11.11 and a 200 day moving average of $12.50. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. Equinox Gold has a 12-month low of $8.48 and a 12-month high of $18.96. The firm has a market cap of $13.89 billion, a P/E ratio of 11.87 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The company had revenue of $769.80 million during the quarter, compared to analysts’ expectations of $775.79 million. During the same quarter in the previous year, the business posted $0.11 EPS. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. Analysts predict that Equinox Gold will post 1.1 EPS for the current fiscal year.

Institutional Trading of Equinox Gold

A number of hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its stake in shares of Equinox Gold by 0.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock valued at $2,680,000 after buying an additional 795 shares during the period. EverSource Wealth Advisors LLC increased its stake in Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after acquiring an additional 982 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Equinox Gold by 1.2% in the 1st quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock worth $1,346,000 after purchasing an additional 1,075 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Equinox Gold by 1.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company’s stock valued at $1,504,000 after purchasing an additional 1,251 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Equinox Gold during the 4th quarter worth approximately $39,000. 38.85% of the stock is owned by institutional investors and hedge funds.

About Equinox Gold

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold’s assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.