Equinox Gold (NYSEAMERICAN:EQX) Announces Quarterly Earnings Results

Equinox Gold (NYSEAMERICAN:EQX) posted its quarterly earnings results on Wednesday. The company reported $0.35 earnings per share (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%. The firm’s quarterly revenue was up 89.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share.

Equinox Gold Stock Up 3.9%

Shares of EQX traded up $0.59 during trading hours on Wednesday, reaching $15.65. The company’s stock had a trading volume of 10,518,186 shares, compared to its average volume of 10,835,123. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 313.06 and a beta of 1.24. The company has a 50 day moving average of $14.83 and a two-hundred day moving average of $12.14. Equinox Gold has a 1-year low of $5.59 and a 1-year high of $17.40.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They issued a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Institutional Investors Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC raised its holdings in shares of Equinox Gold by 25.0% during the fourth quarter. Beacon Pointe Advisors LLC now owns 25,000 shares of the company’s stock worth $351,000 after acquiring an additional 5,000 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new position in Equinox Gold in the fourth quarter valued at about $297,000. State of Wisconsin Investment Board acquired a new position in Equinox Gold in the 4th quarter worth about $270,000. Osaic Holdings Inc. raised its stake in shares of Equinox Gold by 27.9% during the 2nd quarter. Osaic Holdings Inc. now owns 43,424 shares of the company’s stock worth $250,000 after purchasing an additional 9,468 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Equinox Gold during the 4th quarter valued at about $222,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

About Equinox Gold

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.