Eschler Asset Management LLP Makes New Investment in Equinox Gold Corp. $EQX

Key Points

• Eschler Asset Management LLP acquired 140,662 shares of Equinox Gold Corp., representing about 2.4% of its holdings, with a total value of approximately $968,000.
• Equinox Gold's quarterly revenue rose by 77.7% year-over-year to $478.64 million, with earnings per share beating estimates at $0.11.
• Institutional investors own 38.85% of Equinox Gold, indicating significant interest and investment in the company.

Eschler Asset Management LLP bought a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 140,662 shares of the company's stock, valued at approximately $968,000. Equinox Gold makes up 2.4% of Eschler Asset Management LLP's holdings, making the stock its 14th largest position.

Several other hedge funds have also recently bought and sold shares of EQX. Tobam purchased a new position in Equinox Gold in the 1st quarter valued at approximately $29,000. Continuum Advisory LLC increased its stake in Equinox Gold by 53.3% in the 1st 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 in the last quarter. BNP Paribas Financial Markets purchased a new position in Equinox Gold in the 4th quarter valued at approximately $47,000. Mesirow Financial Investment Management Inc. purchased a new position in Equinox Gold in the 1st quarter valued at approximately $69,000. Finally, Vident Advisory LLC purchased a new position in Equinox Gold in the 1st quarter valued at approximately $74,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EQX has been the subject of several research analyst reports. TD Securities reaffirmed a "buy" rating on shares of Equinox Gold in a research note on Friday. Zacks Research raised Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. BMO Capital Markets assumed coverage on Equinox Gold in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Finally, National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Equinox Gold currently has an average rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Trading Up 0.5%

EQX traded up $0.05 during midday trading on Monday, hitting $9.83. The company's stock had a trading volume of 17,386,543 shares, compared to its average volume of 12,437,776. Equinox Gold Corp. has a 52-week low of $4.95 and a 52-week high of $10.00. The firm has a 50-day moving average price of $6.96 and a two-hundred day moving average price of $6.71. 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 firm has a market cap of $7.47 billion, a P/E ratio of -163.81 and a beta of 1.11.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $478.64 million for the quarter, compared to analysts' expectations of $470.00 million. During the same period last year, the company earned ($0.01) earnings per share. The company's quarterly revenue was up 77.7% on a year-over-year basis. On average, research analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share 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.