Equinox Gold (NYSEAMERICAN:EQX) Upgraded at Cibc World Mkts

Key Points

• Equinox Gold has been upgraded by Cibc World Mkts from a "hold" rating to a "strong-buy" rating, indicating increased investor confidence.
• The company beat quarterly earnings estimates by reporting $0.11 EPS, surpassing the analysts' consensus estimate of $0.02, with a year-over-year revenue increase of 77.7%.
• Currently, Equinox Gold has a market cap of $9.12 billion and a consensus rating of "Moderate Buy" with an average price target of $26.00.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) was upgraded by investment analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets initiated coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Royal Bank Of Canada upgraded Equinox Gold from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $11.00 to $17.00 in a research note on Wednesday, September 10th. Zacks Research upgraded Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. Finally, CIBC restated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Equinox Gold Trading Up 1.5%

EQX opened at $11.65 on Thursday. Equinox Gold has a one year low of $4.95 and a one year high of $12.22. The company has a market cap of $9.12 billion, a P/E ratio of -194.13 and a beta of 1.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. The business's 50-day simple moving average is $9.33 and its 200-day simple moving average is $7.42.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.09. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.The business had revenue of $478.64 million for the quarter, compared to the consensus estimate of $470.00 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business's revenue for the quarter was up 77.7% on a year-over-year basis. As a group, equities research analysts expect that Equinox Gold will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Capital Advisory LLC purchased a new position in shares of Equinox Gold in the 2nd quarter valued at approximately $25,000. SBI Securities Co. Ltd. grew its stake in shares of Equinox Gold by 2,054.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company's stock valued at $27,000 after purchasing an additional 4,479 shares during the last quarter. Tobam purchased a new position in shares of Equinox Gold in the 1st quarter valued at approximately $29,000. ORG Partners LLC grew its stake in shares of Equinox Gold by 191.2% in the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company's stock valued at $43,000 after purchasing an additional 4,970 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Equinox Gold by 53.3% in the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after purchasing an additional 2,620 shares during the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

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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