Equinox Gold (NYSEAMERICAN:EQX) Stock Rating Lowered by Zacks Research

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

EQX has been the topic of a number of other reports. Royal Bank Of Canada upped their price objective on shares of Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, October 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Equinox Gold Stock Down 6.2%

Shares of NYSEAMERICAN EQX opened at $10.36 on Wednesday. The company has a 50 day simple moving average of $11.97 and a 200 day simple moving average of $11.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. Equinox Gold has a 1 year low of $8.48 and a 1 year high of $18.96. The firm has a market cap of $12.09 billion, a PE ratio of 10.36 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The business had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. During the same quarter last year, the company posted $0.11 earnings per share. The company’s revenue was up 60.8% compared to the same quarter last year. On average, research analysts forecast that Equinox Gold will post 1.02 EPS for the current year.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors have recently made changes to their positions in EQX. EverSource Wealth Advisors LLC grew its stake in Equinox Gold by 96.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock valued at $29,000 after acquiring an additional 982 shares during the period. Integrated Advisors Network LLC raised its holdings in Equinox Gold by 1.2% during the first quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock worth $1,346,000 after buying an additional 1,075 shares during the last quarter. Net Worth Advisory Group lifted its stake in shares of Equinox Gold by 5.4% in the third quarter. Net Worth Advisory Group now owns 21,259 shares of the company’s stock valued at $230,000 after buying an additional 1,090 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Equinox Gold by 1.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company’s stock valued at $1,504,000 after buying an additional 1,251 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Equinox Gold by 1,427.1% in the third quarter. IFP Advisors Inc now owns 3,039 shares of the company’s stock valued at $34,000 after buying an additional 2,840 shares in the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.