Equinox Gold (NYSEAMERICAN:EQX) Upgraded by Zacks Research to Hold Rating

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on EQX. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus began coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Finally, Cibc Captl Mkts lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Equinox Gold has an average rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Price Performance

EQX stock opened at $16.34 on Tuesday. The firm has a 50 day moving average of $14.70 and a 200-day moving average of $11.84. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 326.87 and a beta of 1.24. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Equinox Gold has a 12-month low of $5.59 and a 12-month high of $17.40.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds have recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of Equinox Gold by 91.3% during the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after buying an additional 45,820,861 shares in the last quarter. L1 Capital Pty Ltd boosted its position in Equinox Gold by 120.4% during the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after acquiring an additional 13,060,846 shares during the last quarter. Franklin Resources Inc. grew its stake in Equinox Gold by 44,440.1% in the 2nd quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock worth $59,850,000 after acquiring an additional 10,341,217 shares during the period. Norges Bank acquired a new position in Equinox Gold in the 4th quarter valued at $141,388,000. Finally, Maple Rock Capital Partners Inc. raised its holdings in Equinox Gold by 102.1% in the 2nd 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 last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

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.