Equinox Gold (NYSEAMERICAN:EQX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Equinox Gold (NYSEAMERICAN:EQX) had its price target boosted by stock analysts at Royal Bank Of Canada from $13.00 to $14.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 17.70% from the company’s current price.

EQX has been the subject of a number of other research reports. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Finally, The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.00.

Equinox Gold Stock Up 0.3%

Shares of NYSEAMERICAN:EQX traded up $0.04 during trading on Wednesday, hitting $11.89. The company’s stock had a trading volume of 5,110,929 shares, compared to its average volume of 11,585,648. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. Equinox Gold has a fifty-two week low of $8.48 and a fifty-two week high of $18.96. The stock’s 50-day moving average price is $11.11 and its two-hundred day moving average price is $12.50. The company has a market capitalization of $13.89 billion, a PE ratio of 11.87 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 EPS. As a group, sell-side analysts expect that Equinox Gold will post 1.1 EPS for the current year.

Hedge Funds Weigh In On Equinox Gold

Several large investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in Equinox Gold by 0.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock worth $2,680,000 after purchasing an additional 795 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares in the last quarter. Integrated Advisors Network LLC increased its stake in Equinox Gold by 1.2% in the 1st quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock worth $1,346,000 after purchasing an additional 1,075 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Equinox Gold by 1.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company’s stock worth $1,504,000 after buying an additional 1,251 shares during the period. Finally, Banque Cantonale Vaudoise purchased a new stake in Equinox Gold during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

About Equinox Gold

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold’s assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.