Equinox Gold (NYSEAMERICAN:EQX) Raised to Buy at TD Securities

TD Securities upgraded shares of Equinox Gold (NYSEAMERICAN:EQX - Free Report) from a hold rating to a buy rating in a report published on Wednesday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also recently weighed in on the company. National Bank Financial upgraded Equinox Gold to a "strong-buy" rating in a research note on Friday, March 21st. BMO Capital Markets assumed coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research note on Friday, June 13th. Finally, CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Price Performance

NYSEAMERICAN:EQX remained flat at $6.28 on Wednesday. The company's stock had a trading volume of 10,012,653 shares, compared to its average volume of 8,212,737. Equinox Gold has a fifty-two week low of $4.48 and a fifty-two week 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. The stock has a market cap of $4.75 billion, a PE ratio of 12.56 and a beta of 1.11. The business has a 50-day moving average price of $6.31 and a 200-day moving average price of $6.25.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.19). The firm had revenue of $423.72 million for the quarter, compared to analysts' expectations of $404.00 million. Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The firm's revenue was up 75.6% on a year-over-year basis. During the same period last year, the company earned ($0.13) earnings per share. As a group, equities research analysts anticipate that Equinox Gold will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently modified their holdings of the company. Veracity Capital LLC grew its stake in Equinox Gold by 14.2% during the 1st quarter. Veracity Capital LLC now owns 12,589 shares of the company's stock worth $87,000 after purchasing an additional 1,564 shares in the last quarter. Rathbones Group PLC boosted its position in shares of Equinox Gold by 1.7% during the 1st quarter. Rathbones Group PLC now owns 108,129 shares of the company's stock worth $743,000 after acquiring an additional 1,825 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Equinox Gold by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 61,193 shares of the company's stock worth $308,000 after acquiring an additional 1,956 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Equinox Gold by 2.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 86,161 shares of the company's stock worth $592,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Equinox Gold by 53.3% during the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after acquiring an additional 2,620 shares in the last quarter. Hedge funds and other institutional investors own 38.85% of the company's stock.

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.