Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.00.

Several research analysts have weighed in on the stock. Stifel Nicolaus started coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating on the stock. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. 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. Zacks Research lowered Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Finally, Cibc Captl Mkts lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of Equinox Gold by 232.7% in the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after acquiring an additional 390,690 shares in the last quarter. Millennium Management LLC purchased a new position in Equinox Gold during the first quarter worth about $6,883,000. Goldman Sachs Group Inc. grew its position in Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after purchasing an additional 490,251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Equinox Gold by 164.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock valued at $5,367,000 after buying an additional 485,567 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in shares of Equinox Gold during the 2nd quarter worth approximately $69,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Stock Down 1.0%

Shares of NYSEAMERICAN:EQX opened at $14.15 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 1.07. Equinox Gold has a 52-week low of $5.59 and a 52-week high of $17.40. The business’s 50 day simple moving average is $14.48 and its two-hundred day simple moving average is $11.44. The firm has a market cap of $11.12 billion, a P/E ratio of 283.06 and a beta of 1.24.

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

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.