TD Securities Upgrades Equinox Gold (NYSEAMERICAN:EQX) to “Hold”

Equinox Gold (NYSEAMERICAN:EQX) was upgraded by analysts at TD Securities to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, TD Cowen started coverage on Equinox Gold in a report on Tuesday. They issued a “hold” rating and a $35.00 price target on the stock.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $6.66 on Tuesday. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 13.59 and a beta of 1.33. 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 1-year low of $3.95 and a 1-year high of $6.86.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equinox Gold’s quarterly revenue was up 50.5% on a year-over-year basis. As a group, equities analysts anticipate that Equinox Gold will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Equinox Gold

Large investors have recently bought and sold shares of the business. National Bank of Canada FI grew its position in shares of Equinox Gold by 15.3% in the third 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 in the last quarter. Stifel Financial Corp acquired a new position in Equinox Gold during the third quarter worth $1,388,000. Van ECK Associates Corp lifted 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 worth $247,549,000 after purchasing an additional 2,954,174 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its stake in Equinox Gold by 34.4% during the third quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock worth $55,842,000 after purchasing an additional 2,349,000 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in Equinox Gold by 35.5% during the third 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. Institutional investors and hedge funds 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.