BMO Capital Markets Initiates Coverage on Equinox Gold (NYSEAMERICAN:EQX)

Analysts at BMO Capital Markets began coverage on shares of Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) in a research report issued on Wednesday. The brokerage set an "outperform" rating on the stock.

Other analysts have also recently issued research reports about the company. National Bank Financial raised Equinox Gold to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday. Finally, CIBC reiterated a "neutral" rating on shares of Equinox Gold in a report on Friday. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Stock Performance

Equinox Gold stock opened at $6.34 on Wednesday. Equinox Gold has a fifty-two week low of $4.48 and a fifty-two week high of $7.45. The firm's 50 day simple moving average is $6.63 and its 200-day simple moving average is $6.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.50. The company has a market cap of $2.89 billion, a P/E ratio of 12.68 and a beta of 1.17.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.19). Equinox Gold had a net margin of 13.96% and a return on equity of 2.20%. The business had revenue of $423.72 million during the quarter, compared to analysts' expectations of $404.00 million. During the same quarter in the previous year, the company earned ($0.13) EPS. Equinox Gold's revenue for the quarter was up 75.6% on a year-over-year basis. As a group, equities research analysts predict that Equinox Gold will post 0.85 EPS for the current year.

Institutional Trading of Equinox Gold

A number of hedge funds have recently modified their holdings of EQX. Donald Smith & CO. Inc. boosted its position in shares of Equinox Gold by 49.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company's stock valued at $135,540,000 after acquiring an additional 8,949,544 shares in the last quarter. Vanguard Group Inc. lifted its stake in Equinox Gold by 7.4% during the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock worth $102,082,000 after purchasing an additional 1,029,738 shares during the period. L1 Capital Pty Ltd boosted its holdings in Equinox Gold by 111.1% during the first quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock valued at $74,634,000 after purchasing an additional 5,710,310 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Equinox Gold by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,160,605 shares of the company's stock valued at $45,985,000 after purchasing an additional 750,300 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Equinox Gold by 0.7% in the 1st quarter. Invesco Ltd. now owns 9,093,341 shares of the company's stock valued at $62,562,000 after purchasing an additional 64,101 shares during the period. Institutional investors own 38.85% of the company's stock.

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.

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