Equinox Gold (NYSEAMERICAN:EQX) Reaches New 12-Month Low at $3.14

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQXGet Rating) reached a new 52-week low on Friday . The stock traded as low as $3.14 and last traded at $3.14, with a volume of 135146 shares. The stock had previously closed at $3.41.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQX. Stifel Nicolaus cut their price target on shares of Equinox Gold from C$16.25 to C$11.50 in a report on Wednesday, July 20th. BMO Capital Markets cut their price target on shares of Equinox Gold from C$9.50 to C$8.50 in a report on Friday, September 9th. National Bank Financial downgraded shares of Equinox Gold from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. Finally, TD Securities cut their price objective on Equinox Gold from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.00.

Equinox Gold Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.89 and a quick ratio of 1.95. The stock has a market cap of $963.99 million, a price-to-earnings ratio of -106.33 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The firm had revenue of $224.60 million during the quarter. Equinox Gold had a return on equity of 0.43% and a net margin of 0.67%. On average, sell-side analysts anticipate that Equinox Gold Corp. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fermata Advisors LLC acquired a new position in Equinox Gold during the first quarter worth $91,000. Pier 88 Investment Partners LLC boosted its holdings in Equinox Gold by 12.6% in the first quarter. Pier 88 Investment Partners LLC now owns 96,485 shares of the company’s stock valued at $798,000 after acquiring an additional 10,780 shares during the last quarter. American Century Companies Inc. bought a new position in Equinox Gold in the first quarter valued at about $4,005,000. Cornerstone Wealth Management LLC bought a new position in Equinox Gold in the first quarter valued at about $302,000. Finally, Oppenheimer & Close LLC boosted its holdings in Equinox Gold by 2.5% in the first quarter. Oppenheimer & Close LLC now owns 215,841 shares of the company’s stock valued at $1,783,000 after acquiring an additional 5,200 shares during the last quarter. 30.00% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile

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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.

Further Reading

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