Equinox Gold (NYSEAMERICAN:EQX) Upgraded by Zacks Investment Research to Hold

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

According to Zacks, “Equinox Gold Corp. engages in the acquisition, exploration and development of mineral deposits. It primarily explores for gold, copper and silver deposits. The company’s principal properties include the Aurizona gold mine in Maranhão State Brazil and the Mesquite gold mine, in California, the United States. Equinox Gold Corp. is headquartered in Vancouver, Canada. “

EQX has been the subject of several other reports. BMO Capital Markets lowered their price objective on shares of Equinox Gold from $20.50 to $19.50 and set an “outperform” rating for the company in a research report on Tuesday, March 23rd. National Bank Financial upgraded shares of Equinox Gold from a “sector perform market weight” rating to an “outperform spec overweight” rating in a report on Thursday, April 8th. CIBC lowered their price target on shares of Equinox Gold from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 8th. TD Securities lowered their price target on shares of Equinox Gold from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 5th. Finally, Scotiabank lowered their price target on shares of Equinox Gold from $19.25 to $18.25 and set an “outperform” rating for the company in a report on Monday, January 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.13.

Shares of NYSEAMERICAN EQX traded down $0.17 during midday trading on Tuesday, reaching $8.05. The company’s stock had a trading volume of 1,365,177 shares, compared to its average volume of 1,337,377. Equinox Gold has a fifty-two week low of $7.72 and a fifty-two week high of $13.66. The business’s 50 day moving average price is $10.28 and its two-hundred day moving average price is $10.93. The company has a market cap of $2.39 billion, a P/E ratio of -38.33 and a beta of 1.14.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings results on Wednesday, March 3rd. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The firm had revenue of $252.60 million for the quarter. Sell-side analysts anticipate that Equinox Gold will post 0.6 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its position in Equinox Gold by 17.3% during the third quarter. Great West Life Assurance Co. Can now owns 28,295 shares of the company’s stock valued at $329,000 after acquiring an additional 4,165 shares during the last quarter. Virtu Financial LLC boosted its position in Equinox Gold by 16.1% during the third quarter. Virtu Financial LLC now owns 27,783 shares of the company’s stock valued at $325,000 after acquiring an additional 3,853 shares during the last quarter. IHT Wealth Management LLC bought a new stake in Equinox Gold during the third quarter valued at $307,000. Finally, Proffitt & Goodson Inc. bought a new stake in Equinox Gold during the first quarter valued at $48,000. 31.46% of the stock is currently owned by institutional investors.

About Equinox Gold

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the Fazenda gold mine located in Bahia State; the RDM gold mine located in Minas Gerais State; the Pilar gold mine located in Goiás State; and the Santa Luz gold mine located in Bahia State, Brazil.

See Also: Pattern Day Trader

Get a free copy of the Zacks research report on Equinox Gold (EQX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Equinox Gold (NYSEAMERICAN:EQX)

Receive News & Ratings for Equinox Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinox Gold and related companies with MarketBeat.com's FREE daily email newsletter.