Equinox Gold (NYSEAMERICAN:EQX) Shares Gap Down Following Analyst Downgrade

Equinox Gold Corp. (NYSEAMERICAN:EQXGet Rating)’s stock price gapped down before the market opened on Thursday after TD Securities lowered their price target on the stock from $10.00 to $9.50. The stock had previously closed at $4.33, but opened at $3.97. TD Securities currently has a buy rating on the stock. Equinox Gold shares last traded at $4.19, with a volume of 114,359 shares changing hands.

Several other research firms have also weighed in on EQX. Desjardins decreased their price target on Equinox Gold from C$12.00 to C$11.25 in a report on Friday, May 6th. Stifel Nicolaus decreased their price target on Equinox Gold from C$16.25 to C$11.50 in a report on Wednesday, July 20th. National Bank Financial lowered Equinox Gold from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. Scotiabank lowered Equinox Gold from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 5th. Finally, BMO Capital Markets reduced their target price on Equinox Gold from C$14.50 to C$14.00 in a research note on Tuesday, May 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.55.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds have recently modified their holdings of the business. CWM LLC purchased a new stake in Equinox Gold during the fourth quarter valued at approximately $39,000. Quantbot Technologies LP lifted its position in Equinox Gold by 20,288.1% during the first quarter. Quantbot Technologies LP now owns 8,563 shares of the company’s stock valued at $70,000 after acquiring an additional 8,521 shares during the last quarter. Fermata Advisors LLC purchased a new stake in Equinox Gold during the first quarter valued at approximately $91,000. First Trust Advisors LP purchased a new stake in Equinox Gold during the first quarter valued at approximately $97,000. Finally, St. Johns Investment Management Company LLC lifted its position in Equinox Gold by 340.8% during the first quarter. St. Johns Investment Management Company LLC now owns 13,734 shares of the company’s stock valued at $114,000 after acquiring an additional 10,618 shares during the last quarter. Hedge funds and other institutional investors own 35.13% of the company’s stock.

Equinox Gold Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 2.84. The stock has a market cap of $1.22 billion, a P/E ratio of -133.67 and a beta of 1.19.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). Equinox Gold had a net margin of 0.67% and a return on equity of 0.42%. The company had revenue of $223.20 million for the quarter. As a group, equities analysts forecast that Equinox Gold Corp. will post 0.17 EPS for the current fiscal year.

Equinox Gold Company Profile

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Equinox Gold Corp. engages in the operation, acquisition, exploration, and development of mineral properties. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the RDM gold mine located in Minas Gerais State; and Fazenda gold mine and the Santa Luz gold mine located in Bahia State, Brazil.

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