Equinox Gold (NYSEAMERICAN:EQX) Upgraded to “Strong-Buy” at Canadian Imperial Bank of Commerce

Equinox Gold (NYSEAMERICAN:EQXGet Free Report) was upgraded by equities research analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Stifel Nicolaus initiated coverage on Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Finally, Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Equinox Gold currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Check Out Our Latest Research Report on EQX

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $18.54 on Monday. The company has a market cap of $14.57 billion, a PE ratio of 77.25 and a beta of 1.24. The firm’s 50 day moving average price is $15.11 and its 200-day moving average price is $12.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. Equinox Gold has a 52-week low of $5.59 and a 52-week high of $18.89.

Institutional Investors Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently made changes to their positions in EQX. Ruffer LLP increased its holdings in shares of Equinox Gold by 15.4% in the third quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after purchasing an additional 1,152,288 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Equinox Gold during the third quarter worth about $6,991,000. Maple Rock Capital Partners Inc. boosted its position in Equinox Gold by 102.1% in the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after buying an additional 7,229,260 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Equinox Gold by 70.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after buying an additional 390,000 shares during the period. Finally, All Terrain Financial Advisors LLC purchased a new position in Equinox Gold during the 2nd quarter worth approximately $498,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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About Equinox Gold

(Get Free Report)

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.

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Analyst Recommendations for Equinox Gold (NYSEAMERICAN:EQX)

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