Scotiabank Lowers Equinox Gold (NYSEAMERICAN:EQX) Price Target to C$11.75

Equinox Gold (NYSEAMERICAN:EQX) had its price objective cut by Scotiabank from C$14.25 to C$11.75 in a report issued on Tuesday, The Fly reports.

Several other equities research analysts have also weighed in on the company. National Bank Financial boosted their target price on Equinox Gold from C$12.25 to C$12.50 in a report on Friday, January 7th. Zacks Investment Research lowered Equinox Gold from a hold rating to a strong sell rating in a report on Wednesday, January 5th. CIBC boosted their target price on Equinox Gold from C$10.50 to C$11.00 and gave the stock a neutral rating in a report on Tuesday, November 16th. TheStreet lowered Equinox Gold from a b- rating to a c+ rating in a report on Thursday, December 2nd. Finally, Royal Bank of Canada reiterated a hold rating and set a $12.00 price target on shares of Equinox Gold in a report on Tuesday, September 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $12.78.

Shares of NYSEAMERICAN EQX opened at $6.86 on Tuesday. The company has a market capitalization of $2.06 billion, a P/E ratio of 4.94 and a beta of 1.10. Equinox Gold has a 52 week low of $5.90 and a 52 week high of $10.59. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.67 and a quick ratio of 1.96.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, November 3rd. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.05). Equinox Gold had a return on equity of 2.10% and a net margin of 48.26%. The company had revenue of $245.13 million during the quarter. As a group, equities analysts forecast that Equinox Gold will post 0.23 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQX. Vanguard Group Inc. increased its position in shares of Equinox Gold by 30.4% during the second quarter. Vanguard Group Inc. now owns 7,387,325 shares of the company’s stock valued at $51,343,000 after purchasing an additional 1,724,187 shares during the period. Shell Asset Management Co. increased its position in shares of Equinox Gold by 95.7% during the second quarter. Shell Asset Management Co. now owns 3,088,177 shares of the company’s stock valued at $21,472,000 after purchasing an additional 1,510,331 shares during the period. Amundi bought a new stake in shares of Equinox Gold during the second quarter valued at approximately $6,554,000. Franklin Resources Inc. increased its position in shares of Equinox Gold by 2,252.5% during the second quarter. Franklin Resources Inc. now owns 680,693 shares of the company’s stock valued at $4,726,000 after purchasing an additional 651,758 shares during the period. Finally, Invesco Ltd. increased its position in shares of Equinox Gold by 15.9% during the third quarter. Invesco Ltd. now owns 4,422,023 shares of the company’s stock valued at $29,185,000 after purchasing an additional 605,249 shares during the period. Institutional investors and hedge funds own 27.45% of the company’s stock.

Equinox Gold Company Profile

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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