National Bank Financial Upgrades Equinox Gold (NYSEAMERICAN:EQX) to “Outperform Overweight”

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by investment analysts at National Bank Financial from a “sector perform spec overwgt” rating to an “outperform overweight” rating in a research note issued on Friday, Zacks.com reports.

Separately, Desjardins upgraded Equinox Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th.

Equinox Gold Trading Up 2.7 %

Shares of Equinox Gold stock opened at $5.68 on Friday. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 63.11 and a beta of 1.31. Equinox Gold has a one year low of $3.95 and a one year high of $6.50. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, February 21st. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $297.80 million during the quarter. Equinox Gold had a net margin of 2.65% and a return on equity of 0.69%. As a group, sell-side analysts anticipate that Equinox Gold will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On Equinox Gold

Hedge funds have recently modified their holdings of the company. Everett Harris & Co. CA purchased a new position in Equinox Gold during the 4th quarter valued at about $52,000. &PARTNERS purchased a new position in shares of Equinox Gold in the first quarter valued at approximately $60,000. Advisor Resource Council acquired a new position in shares of Equinox Gold in the first quarter valued at approximately $76,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Equinox Gold during the 4th quarter worth approximately $80,000. Finally, Aigen Investment Management LP acquired a new stake in Equinox Gold during the 3rd quarter worth approximately $86,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

About Equinox Gold

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.