Equinox Gold (NYSEAMERICAN:EQX) Rating Increased to Moderate Buy at Cormark

Key Points

• Equinox Gold's rating has been upgraded to Moderate Buy by Cormark, reflecting a more favorable outlook on the stock.
• The company reported $0.11 EPS for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 77.7%.
• Currently, Equinox Gold has a market capitalization of $6.06 billion and a consensus target price of $35.00 among analysts.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) was upgraded by analysts at Cormark from a "hold" rating to a "moderate buy" rating in a research note issued on Friday,Zacks.com reports.

A number of other brokerages also recently issued reports on EQX. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday. BMO Capital Markets began coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Trading Up 2.0%

Shares of EQX opened at $7.98 on Friday. Equinox Gold has a 1-year low of $4.95 and a 1-year high of $8.16. The company has a 50-day moving average of $6.32 and a 200 day moving average of $6.42. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -132.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.50.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 4.06%. The business had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company's quarterly revenue was up 77.7% compared to the same quarter last year. On average, research analysts expect that Equinox Gold will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC purchased a new stake in shares of Equinox Gold during the second quarter worth $25,000. SBI Securities Co. Ltd. grew its holdings in shares of Equinox Gold by 2,054.6% during the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company's stock worth $27,000 after buying an additional 4,479 shares in the last quarter. Tobam purchased a new stake in shares of Equinox Gold during the first quarter worth $29,000. Parvin Asset Management LLC purchased a new stake in shares of Equinox Gold during the fourth quarter worth $38,000. Finally, ORG Partners LLC grew its holdings in shares of Equinox Gold by 191.2% during the second quarter. ORG Partners LLC now owns 7,570 shares of the company's stock worth $43,000 after buying an additional 4,970 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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