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

National Bank Financial upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a sector perform spec overwgt rating to an outperform overweight rating in a research report sent to investors on Friday morning, Zacks.com reports.

Separately, Desjardins upgraded shares of Equinox Gold from a hold rating to a buy rating in a report on Tuesday, January 30th.

Equinox Gold Trading Up 2.7 %

Shares of NYSEAMERICAN:EQX opened at $5.68 on Friday. The firm has a market cap of $1.87 billion, a PE ratio of 63.11 and a beta of 1.31. Equinox Gold has a 52 week low of $3.95 and a 52 week high of $6.50. The company has a current ratio of 1.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Equinox Gold had a return on equity of 0.69% and a net margin of 2.65%. The company had revenue of $297.80 million during the quarter. As a group, equities analysts expect that Equinox Gold will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

A number of institutional investors and hedge funds have recently modified their holdings of EQX. Everett Harris & Co. CA bought a new stake in Equinox Gold in the 4th quarter valued at about $52,000. &PARTNERS bought a new stake in Equinox Gold during the 1st quarter valued at $60,000. Advisor Resource Council acquired a new position in Equinox Gold during the first quarter worth $76,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Equinox Gold during the fourth quarter valued at about $80,000. Finally, Aigen Investment Management LP bought a new stake in shares of Equinox Gold during the third quarter worth about $86,000. 38.85% of the stock is currently owned by 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.