TD Asset Management Inc Raises Stock Holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Key Points

• TD Asset Management Inc increased its stake in Equinox Gold Corp by 4.4%, bringing its total ownership to approximately 1.38 million shares valued at $9.5 million.
• A number of analysts have given Equinox Gold a Moderate Buy average rating, with a target price set at $35.00.
• Equinox Gold reported a quarterly revenue increase of 75.6% year-over-year, despite a quarterly earnings miss with EPS of ($0.08).

TD Asset Management Inc boosted its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382,033 shares of the company's stock after buying an additional 58,242 shares during the quarter. TD Asset Management Inc owned approximately 0.30% of Equinox Gold worth $9,497,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EQX. Tobam acquired a new stake in shares of Equinox Gold during the 1st quarter worth approximately $29,000. Continuum Advisory LLC grew its position in shares of Equinox Gold by 53.3% during the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after buying an additional 2,620 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Equinox Gold during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets acquired a new stake in Equinox Gold in the 4th quarter valued at $47,000. Finally, Gamco Investors INC. ET AL acquired a new stake in Equinox Gold in the 4th quarter valued at $56,000. Institutional investors own 38.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EQX. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a research report on Friday, June 13th. CIBC reissued a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. Finally, BMO Capital Markets initiated coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock traded down $0.03 during trading hours on Friday, hitting $6.07. 11,408,353 shares of the company's stock traded hands, compared to its average volume of 12,517,789. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 12.14 and a beta of 1.10. Equinox Gold Corp. has a 12-month low of $4.48 and a 12-month high of $7.45. 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 fifty day simple moving average of $6.32 and a 200-day simple moving average of $6.30.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.19). The company had revenue of $423.72 million for the quarter, compared to the consensus estimate of $404.00 million. Equinox Gold had a net margin of 13.96% and a return on equity of 2.20%. Equinox Gold's quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) EPS. Equities research analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Equinox Gold 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.