Equinox Gold (NYSEAMERICAN:EQX) Now Covered by TD Cowen

Equities research analysts at TD Cowen assumed coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $35.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 432.72% from the company’s previous close.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $6.57 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. Equinox Gold has a 12-month low of $3.95 and a 12-month high of $6.65. The firm has a market capitalization of $2.99 billion, a P/E ratio of 13.41 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Equinox Gold had a net margin of 19.83% and a return on equity of 0.69%. The company had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. The business’s revenue was up 50.5% on a year-over-year basis. On average, equities analysts expect that Equinox Gold will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. National Bank of Canada FI raised its stake in shares of Equinox Gold by 15.3% during the 3rd quarter. National Bank of Canada FI now owns 2,288,413 shares of the company’s stock valued at $13,938,000 after purchasing an additional 303,904 shares during the period. Stifel Financial Corp purchased a new stake in shares of Equinox Gold in the third quarter worth about $1,388,000. Van ECK Associates Corp grew its stake in Equinox Gold by 7.7% during the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock valued at $247,549,000 after acquiring an additional 2,954,174 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in Equinox Gold by 34.4% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock worth $55,842,000 after acquiring an additional 2,349,000 shares during the period. Finally, Donald Smith & CO. Inc. lifted its stake in Equinox Gold by 35.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock worth $109,927,000 after purchasing an additional 4,727,570 shares in the last quarter. Hedge funds and other institutional investors 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.