Equinox Gold (NYSEAMERICAN:EQX) Raised to “Hold” at Zacks Research

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus began coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Finally, Cibc Captl Mkts cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.00.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $16.34 on Tuesday. Equinox Gold has a 52 week low of $5.59 and a 52 week high of $17.40. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 326.87 and a beta of 1.24. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $11.84.

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors have recently added to or reduced their stakes in EQX. Van ECK Associates Corp raised its stake in shares of Equinox Gold by 91.3% during the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after buying an additional 45,820,861 shares in the last quarter. Vanguard Group Inc. grew its holdings in Equinox Gold by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after acquiring an additional 3,250,135 shares during the period. Donald Smith & CO. Inc. raised its position in Equinox Gold by 11.1% in 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 in the last quarter. L1 Capital Pty Ltd lifted its holdings in Equinox Gold by 120.4% in the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock valued at $137,476,000 after acquiring an additional 13,060,846 shares during the period. Finally, Maple Rock Capital Partners Inc. boosted its position in shares of Equinox Gold by 16.3% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 16,644,848 shares of the company’s stock worth $186,664,000 after purchasing an additional 2,336,100 shares in the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.