Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Free Report) shares were up 13.2% during trading on Wednesday. The company traded as high as $11.36 and last traded at $11.3250. 16,419,352 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 11,842,144 shares. The stock had previously closed at $10.00.
Analyst Ratings Changes
Several research analysts have recently commented on EQX shares. Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 21st. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Royal Bank Of Canada increased their target price on shares of Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.
Equinox Gold Stock Up 12.8%
The stock has a market capitalization of $13.17 billion, a P/E ratio of 11.28 and a beta of 1.33. The company’s 50-day moving average price is $11.59 and its 200 day moving average price is $12.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33.
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. As a group, equities analysts expect that Equinox Gold Corp. will post 1.00 earnings per share for the current year.
Institutional Investors Weigh In On Equinox Gold
Institutional investors and hedge funds have recently bought and sold shares of the business. Leuthold Group LLC lifted its position in shares of Equinox Gold by 11.0% in the third quarter. Leuthold Group LLC now owns 295,223 shares of the company’s stock valued at $3,280,000 after acquiring an additional 29,329 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Equinox Gold by 97.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,061,289 shares of the company’s stock worth $22,886,000 after purchasing an additional 1,016,500 shares in the last quarter. Euro Pacific Asset Management LLC grew its position in shares of Equinox Gold by 67.1% during the third quarter. Euro Pacific Asset Management LLC now owns 4,185,305 shares of the company’s stock worth $46,495,000 after purchasing an additional 1,680,772 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Equinox Gold during the third quarter worth about $152,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Equinox Gold by 37.1% during the third quarter. Pictet Asset Management Holding SA now owns 399,175 shares of the company’s stock worth $4,442,000 after purchasing an additional 108,038 shares in the last quarter. 38.85% of the stock is owned by institutional investors.
Equinox Gold Company Profile
Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.
Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.
The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.
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