Equinox Gold Corp. (NYSEAMERICAN:EQX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Equinox Gold Corp. has received a consensus recommendation of "Moderate Buy" from nine analysts, with a 12-month target price averaging $26.00.
• The company's stock opened at $12.21 and has seen significant institutional interest, with hedge funds like L1 Capital raising their stake by over 120% in the second quarter.
• Equinox Gold reported a $0.11 EPS for the last quarter, exceeding analysts' expectations and showing a 77.7% year-over-year revenue growth.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $26.00.

A number of research analysts recently commented on EQX shares. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. TD Securities reiterated a "buy" rating on shares of Equinox Gold in a research note on Friday, September 5th. Finally, Cibc World Mkts upgraded Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 9th.

Equinox Gold Stock Performance

Shares of NYSEAMERICAN EQX opened at $12.21 on Tuesday. The business has a fifty day simple moving average of $10.02 and a 200 day simple moving average of $7.67. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of -203.47 and a beta of 1.14. Equinox Gold has a one year low of $4.95 and a one year high of $12.93.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.09. The business had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.Equinox Gold's revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Sell-side analysts expect that Equinox Gold will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EQX. L1 Capital Pty Ltd raised its stake 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 in the last quarter. Franklin Resources Inc. grew its holdings in shares of Equinox Gold by 44,440.1% during the second quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company's stock worth $59,850,000 after purchasing an additional 10,341,217 shares during the last quarter. Maple Rock Capital Partners Inc. grew its holdings in shares of Equinox Gold by 102.1% during the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company's stock worth $82,398,000 after purchasing an additional 7,229,260 shares during the last quarter. Ruffer LLP grew its holdings in shares of Equinox Gold by 322.1% during the second quarter. Ruffer LLP now owns 7,499,601 shares of the company's stock worth $43,267,000 after purchasing an additional 5,722,871 shares during the last quarter. Finally, Helikon Investments Ltd grew its holdings in shares of Equinox Gold by 229.3% during the first quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock worth $38,629,000 after purchasing an additional 3,909,705 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

About Equinox Gold

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.

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