Equinox Gold (NYSEAMERICAN:EQX) Releases Earnings Results, Beats Estimates By $0.23 EPS

Equinox Gold (NYSEAMERICAN:EQX) announced its quarterly earnings results on Wednesday. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.12 by $0.23, Briefing.com reports. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. During the same quarter last year, the company posted $0.17 EPS. Equinox Gold’s revenue for the quarter was up 89.6% compared to the same quarter last year.

Equinox Gold Stock Performance

Shares of NYSEAMERICAN:EQX traded up $0.59 during midday trading on Wednesday, hitting $15.65. The stock had a trading volume of 10,518,186 shares, compared to its average volume of 11,385,089. Equinox Gold has a 1 year low of $5.59 and a 1 year high of $17.40. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $14.83 and a two-hundred day moving average price of $12.14. The company has a market capitalization of $12.30 billion, a PE ratio of 38.62 and a beta of 1.24.

Analysts Set New Price Targets

A number of analysts have recently commented on EQX shares. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Stifel Nicolaus initiated coverage on Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. Finally, Canadian Imperial Bank of Commerce lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Equinox Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently modified their holdings of EQX. FIL Ltd acquired a new position in shares of Equinox Gold during the 4th quarter worth $332,888,000. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 21.6% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock valued at $284,152,000 after acquiring an additional 3,589,200 shares during the last quarter. Franklin Resources Inc. increased its holdings in Equinox Gold by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 11,845,375 shares of the company’s stock valued at $132,702,000 after acquiring an additional 1,480,888 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Equinox Gold by 163.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,946,309 shares of the company’s stock worth $83,576,000 after acquiring an additional 3,688,805 shares during the last quarter. Finally, Boston Partners acquired a new position in Equinox Gold during the fourth quarter worth about $75,290,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.