Equinox Gold (NYSEAMERICAN:EQX – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “Equinox Gold Corp. engages in the acquisition, exploration and development of mineral deposits. It primarily explores for gold, copper and silver deposits. The company’s principal properties include the Aurizona gold mine in Maranhão State Brazil and the Mesquite gold mine, in California, the United States. Equinox Gold Corp. is headquartered in Vancouver, Canada. “

Several other analysts have also recently commented on the company. Desjardins reduced their price target on Equinox Gold from C$12.00 to C$11.25 in a report on Friday, May 6th. National Bank Financial boosted their price objective on shares of Equinox Gold from C$13.00 to C$14.00 in a research report on Wednesday, April 20th. Stifel Nicolaus dropped their price target on shares of Equinox Gold from C$17.00 to C$16.25 in a research report on Friday. TheStreet lowered Equinox Gold from a “b-” rating to a “c+” rating in a research note on Friday, May 20th. Finally, BMO Capital Markets lowered their target price on Equinox Gold from C$14.50 to C$14.00 in a research note on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.93.

Equinox Gold stock traded up $0.06 during mid-day trading on Monday, hitting $5.95. The company’s stock had a trading volume of 137,882 shares, compared to its average volume of 2,302,392. Equinox Gold has a 1 year low of $5.25 and a 1 year high of $9.55. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 5.00 and a beta of 1.11. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.20 and a current ratio of 2.84.

Equinox Gold (NYSEAMERICAN:EQX – Get Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. Equinox Gold had a return on equity of 2.51% and a net margin of 38.26%. The firm had revenue of $381.20 million for the quarter. Analysts forecast that Equinox Gold will post 0.24 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in shares of Equinox Gold by 8.2% in the first quarter. Van ECK Associates Corp now owns 33,303,089 shares of the company’s stock worth $275,415,000 after purchasing an additional 2,526,327 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Equinox Gold by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 8,215,014 shares of the company’s stock valued at $67,938,000 after purchasing an additional 187,970 shares in the last quarter. Sprott Inc. increased its position in shares of Equinox Gold by 12.2% during the first quarter. Sprott Inc. now owns 5,854,118 shares of the company’s stock valued at $48,353,000 after buying an additional 636,480 shares during the period. Invesco Ltd. lifted its holdings in Equinox Gold by 3.3% in the first quarter. Invesco Ltd. now owns 4,626,965 shares of the company’s stock worth $38,265,000 after buying an additional 149,383 shares during the period. Finally, Donald Smith & CO. Inc. boosted its position in Equinox Gold by 26.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,593 shares of the company’s stock valued at $30,404,000 after acquiring an additional 939,751 shares in the last quarter. Hedge funds and other institutional investors own 35.13% of the company’s stock.

About Equinox Gold (Get Rating)

Equinox Gold Corp. engages in the operation, acquisition, exploration, and development of mineral properties. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the RDM gold mine located in Minas Gerais State; and Fazenda gold mine and the Santa Luz gold mine located in Bahia State, Brazil.

Read More

Get a free copy of the Zacks research report on Equinox Gold (EQX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Equinox Gold Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Equinox Gold and related companies with MarketBeat.com’s FREE daily email newsletter.