Equinox Gold (NYSEAMERICAN:EQX) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a research note published on Wednesday morning. The firm issued an outperform rating on the stock.

EQX has been the topic of several other research reports. National Bankshares reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Friday, June 13th. National Bank Financial raised Equinox Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, CIBC reaffirmed a “neutral” rating on shares of Equinox Gold in a research report on Friday, June 13th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Equinox Gold Stock Performance

Shares of EQX opened at $6.23 on Wednesday. The stock has a 50-day simple moving average of $6.63 and a 200-day simple moving average of $6.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. The stock has a market capitalization of $2.84 billion, a PE ratio of 12.46 and a beta of 1.17. Equinox Gold has a 1 year low of $4.48 and a 1 year high of $7.45.

Equinox Gold (NYSEAMERICAN:EQX) last issued its 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). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The business had revenue of $423.72 million for the quarter, compared to analyst estimates of $404.00 million. During the same period last year, the business posted ($0.13) EPS. Equinox Gold’s revenue was up 75.6% on a year-over-year basis. On average, analysts predict that Equinox Gold will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Equinox Gold

A number of institutional investors have recently modified their holdings of EQX. Invst LLC purchased a new stake in shares of Equinox Gold in the first quarter valued at $877,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Equinox Gold by 164.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock valued at $5,367,000 after purchasing an additional 485,567 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Equinox Gold by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock valued at $12,812,000 after purchasing an additional 490,251 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Equinox Gold by 92.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 162,043 shares of the company’s stock valued at $1,115,000 after purchasing an additional 78,011 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Equinox Gold in the first quarter valued at $6,883,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

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.