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

Key Points

• Equinox Gold Corp. has been assigned a consensus recommendation of "Moderate Buy" from six research firms, with an average 1-year price target of $35.00.
• Despite a 75.6% year-over-year increase in quarterly revenue, Equinox Gold reported a loss of ($0.08) earnings per share, missing analysts' estimates by $0.19.
• Institutional investors own 38.85% of Equinox Gold's stock, with several hedge funds acquiring new positions in the company recently.

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $35.00.

A number of analysts have recently commented on the company. BMO Capital Markets began coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a report on Friday, June 13th. Finally, CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Capital Advisory LLC acquired a new position in shares of Equinox Gold in the 2nd quarter worth approximately $25,000. Tobam bought a new position in Equinox Gold during the first quarter worth $29,000. Parvin Asset Management LLC acquired a new position in Equinox Gold in the fourth quarter valued at $38,000. ORG Partners LLC boosted its position in Equinox Gold by 191.2% during the second quarter. ORG Partners LLC now owns 7,570 shares of the company's stock valued at $43,000 after acquiring an additional 4,970 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Equinox Gold during the 4th quarter worth about $47,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Trading Up 2.7%

Shares of Equinox Gold stock opened at $6.57 on Thursday. The firm's 50 day moving average is $6.30 and its 200 day moving average is $6.32. The firm has a market capitalization of $4.99 billion, a PE ratio of 13.14 and a beta of 1.10. Equinox Gold has a 1 year low of $4.48 and a 1 year high of $7.45. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.38.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.19). The company had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The business's quarterly revenue was up 75.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS. Equities research analysts forecast that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

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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