TD Cowen Begins Coverage on Equinox Gold (NYSEAMERICAN:EQX)

Investment analysts at TD Cowen assumed coverage on shares of Equinox Gold (NYSEAMERICAN:EQX) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $35.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 425.53% from the stock’s previous close.

Equinox Gold Stock Performance

Shares of EQX stock opened at $6.66 on Tuesday. Equinox Gold has a 52 week low of $3.95 and a 52 week high of $6.86. The firm has a market cap of $3.03 billion, a PE ratio of 13.59 and a beta of 1.33. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Equinox Gold had a net margin of 19.83% and a return on equity of 0.69%. The company had revenue of $428.40 million during the quarter, compared to analyst estimates of $437.84 million. The business’s revenue was up 50.5% on a year-over-year basis. As a group, analysts predict that Equinox Gold will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hobbs Group Advisors LLC acquired a new stake in shares of Equinox Gold in the 3rd quarter valued at approximately $43,000. Joel Isaacson & Co. LLC acquired a new stake in Equinox Gold in the third quarter worth $61,000. Synovus Financial Corp bought a new position in shares of Equinox Gold during the third quarter worth $61,000. Veracity Capital LLC acquired a new position in shares of Equinox Gold in the 3rd quarter valued at $61,000. Finally, Choreo LLC bought a new stake in shares of Equinox Gold in the 4th quarter valued at $63,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.