National Bank Financial Upgrades Equinox Gold (NYSEAMERICAN:EQX) to Outperform Overweight

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by equities research analysts at National Bank Financial from a “sector perform spec overwgt” rating to an “outperform overweight” rating in a report released on Friday, Zacks.com reports.

Separately, Desjardins raised shares of Equinox Gold from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $5.68 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 63.11 and a beta of 1.31. Equinox Gold has a 1-year low of $3.95 and a 1-year high of $6.50. The company has a current ratio of 1.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, February 21st. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $297.80 million for the quarter. Equinox Gold had a return on equity of 0.69% and a net margin of 2.65%. Research analysts anticipate that Equinox Gold will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its stake in shares of Equinox Gold by 1.8% during the 3rd quarter. Private Advisor Group LLC now owns 214,468 shares of the company’s stock valued at $907,000 after buying an additional 3,700 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Equinox Gold by 6.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 95,430 shares of the company’s stock valued at $404,000 after acquiring an additional 6,021 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Equinox Gold by 63.0% in the first quarter. Banque Cantonale Vaudoise now owns 17,481 shares of the company’s stock worth $106,000 after acquiring an additional 6,755 shares during the period. CIBC Asset Management Inc grew its position in shares of Equinox Gold by 2.4% during the fourth quarter. CIBC Asset Management Inc now owns 340,707 shares of the company’s stock worth $1,661,000 after purchasing an additional 7,914 shares in the last quarter. Finally, Terril Brothers Inc. grew its position in shares of Equinox Gold by 66.7% during the fourth quarter. Terril Brothers Inc. now owns 20,000 shares of the company’s stock worth $98,000 after purchasing an additional 8,000 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

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.