Brokerages Set Equinox Gold Corp. (NYSEAMERICAN:EQX) PT at $26.00

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $26.00.

Several analysts recently commented on EQX shares. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Stifel Nicolaus started coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Finally, Stifel Canada raised Equinox Gold to a “strong-buy” rating in a research note on Monday, December 1st.

Institutional Investors Weigh In On Equinox Gold

Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Equinox Gold by 91.3% in the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after buying an additional 45,820,861 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Equinox Gold by 3.1% in the third quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock valued at $307,659,000 after acquiring an additional 822,981 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Equinox Gold by 11.1% during the second quarter. Donald Smith & CO. Inc. now owns 26,507,615 shares of the company’s stock worth $152,419,000 after acquiring an additional 2,643,856 shares during the period. L1 Capital Pty Ltd raised its holdings in 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 purchasing an additional 13,060,846 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its position in Equinox Gold by 16.3% in the third quarter. Maple Rock Capital Partners Inc. now owns 16,644,848 shares of the company’s stock valued at $186,664,000 after purchasing an additional 2,336,100 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Down 3.3%

Shares of NYSEAMERICAN EQX opened at $14.16 on Friday. The business has a 50-day moving average price of $13.46 and a 200 day moving average price of $10.37. The stock has a market cap of $11.12 billion, a PE ratio of 283.26 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Equinox Gold has a 52-week low of $5.57 and a 52-week high of $15.10.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $819.01 million during the quarter, compared to analysts’ expectations of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The company’s quarterly revenue was up 91.2% on a year-over-year basis. Equities research analysts forecast that Equinox Gold will post 0.85 earnings per share for the current year.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.