Scotiabank Lowers Equinox Gold (NYSEAMERICAN:EQX) Price Target to C$14.25

Equinox Gold (NYSEAMERICAN:EQX) had its price objective trimmed by Scotiabank from C$14.50 to C$14.25 in a research note published on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently issued reports on EQX. Royal Bank of Canada decreased their price objective on shares of Equinox Gold from C$14.00 to C$12.00 and set a sector perform rating for the company in a report on Tuesday, August 10th. TD Securities reduced their price target on shares of Equinox Gold from C$17.50 to C$17.00 and set a buy rating for the company in a report on Thursday, August 5th. Desjardins raised shares of Equinox Gold from a hold rating to a buy rating in a report on Friday, August 6th. Zacks Investment Research raised shares of Equinox Gold from a sell rating to a hold rating in a report on Tuesday, August 24th. Finally, BMO Capital Markets reduced their price target on shares of Equinox Gold from C$17.50 to C$15.50 and set an outperform rating for the company in a report on Thursday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Equinox Gold currently has an average rating of Buy and a consensus target price of $13.18.

NYSEAMERICAN EQX opened at $7.04 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 2.37 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $10.30. The company has a market cap of $2.12 billion, a P/E ratio of 4.82 and a beta of 1.05. Equinox Gold has a 1 year low of $5.90 and a 1 year high of $13.07.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.07). The firm had revenue of $226.22 million for the quarter. Equinox Gold had a return on equity of 4.12% and a net margin of 50.08%. As a group, sell-side analysts anticipate that Equinox Gold will post 0.41 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in EQX. Van ECK Associates Corp increased its position in shares of Equinox Gold by 20.6% during the 2nd quarter. Van ECK Associates Corp now owns 33,119,322 shares of the company’s stock worth $230,178,000 after purchasing an additional 5,646,909 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Equinox Gold by 30.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,387,325 shares of the company’s stock worth $51,343,000 after purchasing an additional 1,724,187 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of Equinox Gold by 0.3% during the 2nd quarter. Donald Smith & CO. Inc. now owns 4,495,427 shares of the company’s stock worth $31,243,000 after purchasing an additional 11,557 shares in the last quarter. Invesco Ltd. increased its position in shares of Equinox Gold by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,816,774 shares of the company’s stock worth $26,527,000 after purchasing an additional 258,929 shares in the last quarter. Finally, Shell Asset Management Co. increased its position in shares of Equinox Gold by 95.7% during the 2nd quarter. Shell Asset Management Co. now owns 3,088,177 shares of the company’s stock worth $21,472,000 after purchasing an additional 1,510,331 shares in the last quarter. Institutional investors own 27.93% of the company’s stock.

About Equinox Gold

Equinox Gold Corp. engages in the exploration of gold mining properties. Its projects include mesquite gold mine, aurizona gold mine, castle mountain, and copper projects. The company was founded by Marc Pais on March 23, 2007 and is headquartered in Vancouver, Canada.

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