Stifel Canada Upgrades Equinox Gold (NYSEAMERICAN:EQX) to Strong-Buy

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by equities researchers at Stifel Canada to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the company. Stifel Nicolaus initiated coverage on Equinox Gold in a report on Tuesday. They issued a “buy” rating on the stock. Cibc World Mkts raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, TD Securities reissued a “buy” rating on shares of Equinox Gold in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $26.00.

Equinox Gold Price Performance

EQX stock traded down $0.03 during trading on Monday, reaching $13.89. 1,380,463 shares of the company were exchanged, compared to its average volume of 12,879,883. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 1.07. The stock’s 50 day moving average price is $11.83 and its 200 day moving average price is $8.89. Equinox Gold has a 52-week low of $4.95 and a 52-week high of $14.27. The company has a market cap of $10.90 billion, a P/E ratio of 277.76 and a beta of 1.25.

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

Institutional Investors Weigh In On Equinox Gold

Several hedge funds have recently made changes to their positions in the business. American Capital Advisory LLC acquired a new position in Equinox Gold in the second quarter valued at $25,000. SBI Securities Co. Ltd. lifted its holdings in shares of Equinox Gold by 2,054.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock worth $27,000 after acquiring an additional 4,479 shares during the period. ORG Partners LLC boosted its position in shares of Equinox Gold by 191.2% in the second quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock worth $43,000 after acquiring an additional 4,970 shares during the last quarter. Smithfield Trust Co purchased a new stake in Equinox Gold in the third quarter valued at approximately $43,000. Finally, Wexford Capital LP acquired a new position in Equinox Gold during the third quarter worth approximately $49,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.