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

Key Points

• Equinox Gold Corp. has received a consensus recommendation of "Moderate Buy" from analysts, with an average target price of $35.00 based on reports from seven brokerages.
• The company's shares have recently traded up 5.9%, with current prices opening at $8.76 after achieving a 12-month high of the same amount.
• Equinox Gold reported quarterly earnings of $0.11 per share, exceeding expectations and showing a 77.7% increase in revenue year-over-year.

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

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

Equinox Gold Stock Performance

EQX stock traded down $0.03 during trading on Monday, reaching $9.11. The company had a trading volume of 15,229,466 shares, compared to its average volume of 13,379,778. The firm has a 50-day simple moving average of $6.82 and a 200-day simple moving average of $6.67. The company has a market cap of $6.92 billion, a price-to-earnings ratio of -151.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. Equinox Gold has a twelve month low of $4.95 and a twelve month high of $9.32.

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

Institutional Investors Weigh In On Equinox Gold

A number of large investors have recently modified their holdings of EQX. L1 Capital Pty Ltd grew its holdings in shares of 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 buying an additional 13,060,846 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Equinox Gold by 44,440.1% during the 2nd quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company's stock valued at $59,850,000 after acquiring an additional 10,341,217 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its position in shares of Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company's stock valued at $82,398,000 after acquiring an additional 7,229,260 shares during the last quarter. Ruffer LLP boosted its position in shares of Equinox Gold by 322.1% during the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company's stock valued at $43,267,000 after acquiring an additional 5,722,871 shares during the last quarter. Finally, Helikon Investments Ltd boosted its position in shares of Equinox Gold by 229.3% during the 1st quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock valued at $38,629,000 after acquiring an additional 3,909,705 shares during the last quarter. Hedge funds and other institutional investors 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.