TD Asset Management Inc Purchases 58,242 Shares of 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 position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 0.30% of Equinox Gold worth $9,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tobam bought a new position in shares of Equinox Gold in the 1st quarter valued at approximately $29,000. Parvin Asset Management LLC bought a new position in Equinox Gold in the 4th quarter valued at $38,000. BNP Paribas Financial Markets bought a new stake in shares of Equinox Gold during the fourth quarter worth $47,000. Continuum Advisory LLC raised its position in shares of Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after acquiring an additional 2,620 shares during the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in Equinox Gold in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Stock Up 1.9%

NYSEAMERICAN:EQX traded up $0.12 on Monday, hitting $6.19. The stock had a trading volume of 2,979,197 shares, compared to its average volume of 11,943,956. The business's fifty day moving average is $6.32 and its 200 day moving average is $6.31. The company has a market cap of $4.69 billion, a PE ratio of 12.39 and a beta of 1.10. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. Equinox Gold Corp. has a 52 week low of $4.48 and a 52 week high of $7.45.

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

Analyst Upgrades and Downgrades

EQX has been the subject of several recent research reports. BMO Capital Markets initiated coverage on Equinox Gold in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

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.