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

Equinox Gold (NYSEAMERICAN:EQX) released its quarterly earnings data on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 business’s revenue for the quarter was up 89.6% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share.

Equinox Gold Stock Up 3.9%

Shares of Equinox Gold stock traded up $0.59 on Wednesday, reaching $15.65. 10,518,186 shares of the company were exchanged, compared to its average volume of 10,835,123. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 313.06 and a beta of 1.24. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Equinox Gold has a one year low of $5.59 and a one year high of $17.40. The company has a 50-day moving average of $14.83 and a 200 day moving average of $12.14.

Institutional Trading of Equinox Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its stake in Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after acquiring an additional 2,098 shares during the last quarter. Wexford Capital LP acquired a new position in shares of Equinox Gold during the 3rd quarter worth about $49,000. Advisory Services Network LLC bought a new stake in shares of Equinox Gold in the 3rd quarter valued at about $71,000. Kestra Advisory Services LLC bought a new stake in shares of Equinox Gold in the 4th quarter valued at about $100,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Equinox Gold in the 4th quarter valued at about $124,000. 38.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EQX has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Stifel Nicolaus began coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, Canadian Imperial Bank of Commerce downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.