Brokerages Set Equinox Gold Corp. (NYSEAMERICAN:EQX) Target Price at $35.00

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 given an average rating of "Moderate Buy" by the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $35.00.

EQX has been the topic of several recent analyst reports. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. BMO Capital Markets initiated coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. CIBC reissued a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, June 13th.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds have recently made changes to their positions in EQX. Vanguard Group Inc. raised its position in Equinox Gold by 7.4% in the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock worth $102,082,000 after purchasing an additional 1,029,738 shares in the last quarter. L1 Capital Pty Ltd raised its position in Equinox Gold by 111.1% in the first quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock worth $74,634,000 after purchasing an additional 5,710,310 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Equinox Gold by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,160,605 shares of the company's stock worth $45,985,000 after purchasing an additional 750,300 shares in the last quarter. Invesco Ltd. raised its position in Equinox Gold by 0.7% in the first quarter. Invesco Ltd. now owns 9,093,341 shares of the company's stock worth $62,562,000 after purchasing an additional 64,101 shares in the last quarter. Finally, Helikon Investments Ltd raised its position in Equinox Gold by 37.1% in the second quarter. Helikon Investments Ltd now owns 7,699,497 shares of the company's stock worth $44,272,000 after purchasing an additional 2,084,762 shares in the last quarter. Institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Up 1.3%

NYSEAMERICAN:EQX traded up $0.09 during trading hours on Thursday, hitting $6.53. 5,572,436 shares of the stock traded hands, compared to its average volume of 11,955,299. The firm has a 50 day moving average price of $6.30 and a 200 day moving average price of $6.36. 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 has a fifty-two week low of $4.95 and a fifty-two week high of $7.45. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 13.10 and a beta of 1.10.

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.