Equinox Gold (NYSEAMERICAN:EQX) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a research note released on Wednesday. The firm issued an outperform rating on the stock.

Several other brokerages also recently weighed in on EQX. National Bankshares reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, June 13th. CIBC restated a “neutral” rating on shares of Equinox Gold in a report on Friday, June 13th. Finally, National Bank Financial upgraded Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $6.01 on Wednesday. The stock’s fifty day moving average is $6.61 and its 200 day moving average is $6.18. Equinox Gold has a fifty-two week low of $4.48 and a fifty-two week high of $7.45. The firm has a market capitalization of $2.74 billion, a PE ratio of 12.02 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The firm had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. During the same period in the previous year, the company posted ($0.13) EPS. Equinox Gold’s quarterly revenue was up 75.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently made changes to their positions in EQX. Tobam purchased a new position in shares of Equinox Gold in the 1st quarter valued at approximately $29,000. Parvin Asset Management LLC purchased a new stake in shares of Equinox Gold in the fourth quarter valued at $38,000. BNP Paribas Financial Markets purchased a new stake in shares of Equinox Gold in the fourth quarter valued at $47,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Equinox Gold in the fourth quarter valued at $50,000. Finally, Continuum Advisory LLC lifted its position in Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock worth $52,000 after buying an additional 2,620 shares during the period. Institutional investors and hedge funds 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.