Equinox Gold (NYSEAMERICAN:EQX) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $35.00 target price on the stock.

Equinox Gold Stock Performance

Shares of EQX opened at $6.69 on Tuesday. The firm has a market capitalization of $3.05 billion, a P/E ratio of 13.65 and a beta of 1.33. Equinox Gold has a 52-week low of $3.95 and a 52-week high of $6.86. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results 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). The business had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. As a group, equities research analysts forecast that Equinox Gold will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its stake in Equinox Gold by 35.5% in the third quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock valued at $109,927,000 after purchasing an additional 4,727,570 shares during the last quarter. Van ECK Associates Corp grew its stake in Equinox Gold by 7.7% in the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock valued at $247,549,000 after purchasing an additional 2,954,174 shares during the last quarter. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 34.4% in the third quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock valued at $55,842,000 after purchasing an additional 2,349,000 shares during the last quarter. Helikon Investments Ltd purchased a new position in Equinox Gold in the fourth quarter valued at about $8,559,000. Finally, Wellington Management Group LLP purchased a new position in Equinox Gold in the third quarter valued at about $5,570,000. 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.