136,226 Shares in Equinox Gold Corp. (NYSEAMERICAN:EQX) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired a new position in Equinox Gold Corp., purchasing 136,226 shares valued at approximately $937,000 during the first quarter, highlighting growing institutional interest in the company.
• Equinox Gold received a rating upgrade from TD Securities from "hold" to "buy," while the current consensus rating is "Moderate Buy" with a target price of $35.00.
• Despite a revenue increase of 75.6% year-over-year to $423.72 million, the company reported a loss of ($0.08) EPS, falling short of the expected profit.

Y Intercept Hong Kong Ltd purchased a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 136,226 shares of the company's stock, valued at approximately $937,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQX. Tobam purchased a new position in shares of Equinox Gold during the first quarter valued at approximately $29,000. Parvin Asset Management LLC purchased a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $38,000. BNP Paribas Financial Markets purchased a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $47,000. Continuum Advisory LLC boosted its holdings in shares of Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after purchasing an additional 2,620 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $56,000. 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 EQX shares. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. BMO Capital Markets started coverage on Equinox Gold in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a report on Friday, June 13th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Price Performance

NYSEAMERICAN:EQX opened at $6.39 on Friday. Equinox Gold Corp. has a one year low of $4.48 and a one year high of $7.45. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 12.78 and a beta of 1.11. The firm's fifty day moving average is $6.35 and its two-hundred day moving average is $6.29.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.19). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The firm had revenue of $423.72 million for the quarter, compared to analysts' expectations of $404.00 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The company's revenue was up 75.6% compared to the same quarter last year. Research analysts expect that Equinox Gold Corp. will post 0.85 EPS for the current year.

Equinox Gold Company Profile

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.

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