Stifel Nicolaus Begins Coverage on Equinox Gold (NYSEAMERICAN:EQX)

Stock analysts at Stifel Nicolaus began coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a report released on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating on the stock.

Several other equities research analysts also recently commented on EQX. Royal Bank Of Canada raised shares of Equinox Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $17.00 in a report on Wednesday, September 10th. TD Securities reissued a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th. Scotiabank upgraded shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research note on Thursday, November 6th. National Bankshares reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 15th. Finally, Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.00.

Equinox Gold Price Performance

Equinox Gold stock opened at $13.78 on Tuesday. The business’s 50 day simple moving average is $11.90 and its 200 day simple moving average is $8.92. Equinox Gold has a 12 month low of $4.95 and a 12 month high of $14.27. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 275.66 and a beta of 1.25. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The firm had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. The firm’s revenue was up 91.2% on a year-over-year basis. Sell-side analysts forecast that Equinox Gold will post 0.85 EPS 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. Cetera Investment Advisers lifted its stake in shares of Equinox Gold by 42.1% in the 1st quarter. Cetera Investment Advisers now owns 26,874 shares of the company’s stock worth $185,000 after purchasing an additional 7,962 shares during the period. LPL Financial LLC increased its holdings in Equinox Gold by 50.1% during the first quarter. LPL Financial LLC now owns 646,649 shares of the company’s stock valued at $4,449,000 after buying an additional 215,927 shares during the last quarter. Vanguard Group Inc. raised its position in Equinox Gold by 7.4% in the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company’s stock worth $102,082,000 after acquiring an additional 1,029,738 shares during the period. CenterBook Partners LP raised its position in Equinox Gold by 8.6% in the first quarter. CenterBook Partners LP now owns 3,249,654 shares of the company’s stock worth $22,358,000 after acquiring an additional 256,630 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Equinox Gold by 3.8% during the 1st quarter. Swiss National Bank now owns 754,690 shares of the company’s stock worth $5,190,000 after acquiring an additional 27,600 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.