Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 7.2% – Still a Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX) traded up 7.2% during trading on Monday . The company traded as high as $6.46 and last traded at $6.51. 4,951,311 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 6,902,599 shares. The stock had previously closed at $6.07.

Analysts Set New Price Targets

Separately, TD Cowen initiated coverage on Equinox Gold in a report on Tuesday. They set a “hold” rating and a $35.00 price target for the company.

Equinox Gold Stock Performance

The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 13.59 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $428.40 million during the quarter, compared to analysts’ expectations of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The company’s quarterly revenue was up 50.5% compared to the same quarter last year. As a group, equities research analysts forecast that Equinox Gold Corp. will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EQX. Kohmann Bosshard Financial Services LLC grew its stake in shares of Equinox Gold by 10.6% in the 4th quarter. Kohmann Bosshard Financial Services LLC now owns 36,000 shares of the company’s stock worth $181,000 after buying an additional 3,450 shares during the last quarter. Northwest & Ethical Investments L.P. increased its holdings in shares of Equinox Gold by 20.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 24,750 shares of the company’s stock valued at $151,000 after acquiring an additional 4,198 shares in the last quarter. Harvest Portfolios Group Inc. raised its position in shares of Equinox Gold by 5.2% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 108,963 shares of the company’s stock worth $665,000 after purchasing an additional 5,418 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Equinox Gold in the 3rd quarter worth about $43,000. Finally, Joel Isaacson & Co. LLC bought a new position in Equinox Gold in the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

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.