Equinox Gold (NYSEAMERICAN:EQX) Upgraded by Zacks Research to Strong-Buy Rating

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

EQX has been the subject of a number of other reports. Stifel Nicolaus assumed coverage on Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $13.00 on Tuesday. The firm has a fifty day moving average of $15.61 and a two-hundred day moving average of $13.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 54.17 and a beta of 1.20. Equinox Gold has a 52 week low of $5.59 and a 52 week high of $18.96.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ruffer LLP raised its stake in Equinox Gold by 15.4% during the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock worth $96,992,000 after buying an additional 1,152,288 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Equinox Gold in the third quarter valued at about $6,991,000. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 102.1% in the second 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. Allspring Global Investments Holdings LLC increased its holdings in shares of Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after acquiring an additional 390,000 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new stake in shares of Equinox Gold in the third quarter worth about $1,111,000. Institutional investors and hedge funds 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.