Equinox Gold (NYSEAMERICAN:EQX) Raised to “Strong-Buy” at Cibc Captl Mkts

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by analysts at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on EQX. Zacks Research downgraded shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Cibc World Mkts upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. CIBC raised Equinox Gold from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Four analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.00.

Equinox Gold Stock Performance

Shares of EQX stock traded down $1.50 on Tuesday, hitting $13.74. The company’s stock had a trading volume of 13,123,163 shares, compared to its average volume of 11,233,497. Equinox Gold has a fifty-two week low of $5.59 and a fifty-two week high of $17.40. The company has a market capitalization of $10.79 billion, a PE ratio of 274.85 and a beta of 1.24. The stock’s 50 day moving average is $14.56 and its 200-day moving average is $11.53. 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 (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS 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 firm had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. The business’s revenue for the quarter was up 91.2% on a year-over-year basis. Equities research analysts expect that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds have recently bought and sold shares of the company. American Capital Advisory LLC bought a new stake in Equinox Gold during the second quarter valued at about $25,000. SBI Securities Co. Ltd. lifted its holdings in Equinox Gold by 2,054.6% during the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after purchasing an additional 4,479 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Equinox Gold in the fourth quarter worth approximately $28,000. Lodestone Wealth Management LLC bought a new stake in shares of Equinox Gold during the 4th quarter valued at $28,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of Equinox Gold during the 4th quarter valued at $37,000. 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.