Analysts Set Equinox Gold Corp. (NYSEAMERICAN:EQX) Price Target at $35.00

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $35.00.

A number of analysts have weighed in on EQX shares. National Bank Financial upgraded Equinox Gold to a “strong-buy” rating in a report on Friday, March 21st. CIBC reiterated a “neutral” rating on shares of Equinox Gold in a report on Tuesday. BMO Capital Markets initiated coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They set an “outperform” rating for the company. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Friday, June 13th.

Equinox Gold Stock Down 2.7%

Shares of NYSEAMERICAN EQX opened at $6.12 on Friday. The stock has a 50 day moving average price of $6.33 and a 200 day moving average price of $6.24. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 12.24 and a beta of 1.11. Equinox Gold has a 52-week low of $4.48 and a 52-week high of $7.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.19). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The business had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The firm’s revenue was up 75.6% on a year-over-year basis. Sell-side analysts expect that Equinox Gold will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Tobam purchased a new position in shares of Equinox Gold during the first quarter worth $29,000. Parvin Asset Management LLC acquired a new position in Equinox Gold in the fourth quarter valued at approximately $38,000. BNP Paribas Financial Markets purchased a new stake in Equinox Gold during the fourth quarter worth $47,000. Continuum Advisory LLC raised its position in shares of Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock worth $52,000 after acquiring an additional 2,620 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in Equinox Gold during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.