Invst LLC Buys New Position in Equinox Gold Corp. $EQX

Key Points

• Invst LLC has acquired 127,520 shares of Equinox Gold Corp., valued at approximately $877,000, marking a significant new investment in the company.
• Equinox Gold recently reported a 77.7% increase in quarterly revenue year-over-year, with earnings per share of $0.11, exceeding analyst expectations.
• Several analysts have upgraded Equinox Gold's stock ratings, with Royal Bank of Canada increasing its price target from $11.00 to $17.00, reflecting a positive outlook on the company.

Invst LLC acquired a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 127,520 shares of the company's stock, valued at approximately $877,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Equinox Gold by 7.4% during the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock worth $102,082,000 after buying an additional 1,029,738 shares during the last quarter. L1 Capital Pty Ltd increased its holdings in Equinox Gold by 111.1% during the first quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock worth $74,634,000 after buying an additional 5,710,310 shares during the last quarter. Invesco Ltd. increased its holdings in Equinox Gold by 0.7% during the first quarter. Invesco Ltd. now owns 9,093,341 shares of the company's stock worth $62,562,000 after buying an additional 64,101 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Equinox Gold by 42.6% during the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock worth $35,260,000 after buying an additional 2,093,437 shares during the last quarter. Finally, Helikon Investments Ltd increased its holdings in Equinox Gold by 229.3% during the first quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock worth $38,629,000 after buying an additional 3,909,705 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Cormark upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. BMO Capital Markets began coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. TD Securities reiterated a "buy" rating on shares of Equinox Gold in a research report on Friday, September 5th. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. Finally, Zacks Research upgraded shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Equinox Gold Price Performance

Shares of Equinox Gold stock traded up $0.02 on Thursday, reaching $10.42. The stock had a trading volume of 10,045,375 shares, compared to its average volume of 12,686,181. Equinox Gold Corp. has a 1 year low of $4.95 and a 1 year high of $11.10. The company has a market cap of $7.92 billion, a P/E ratio of -173.55 and a beta of 1.11. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $7.70 and its two-hundred day moving average is $6.91.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.09. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. The firm had revenue of $478.64 million for the quarter, compared to the consensus estimate of $470.00 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company's revenue for the quarter was up 77.7% on a year-over-year basis. As a group, research analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current year.

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.