Acuitas Investments LLC Cuts Holdings in Equinox Gold Corp. $EQX

Key Points

• Acuitas Investments LLC significantly reduced its holdings in Equinox Gold Corp. by 39.7%, leaving it with 269,452 shares valued at approximately $1.55 million after the sale of 177,122 shares.
• Equinox Gold's recent quarterly earnings beat expectations, reporting $0.11 earnings per share, with a 77.7% year-over-year revenue increase to $478.64 million.
• Analysts have mixed opinions on Equinox Gold, with some upgrading it to "outperform" and others downgrading it to "strong sell," resulting in a consensus rating of "Moderate Buy" and a target price of $26.00.

Acuitas Investments LLC decreased its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 39.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,452 shares of the company's stock after selling 177,122 shares during the period. Acuitas Investments LLC's holdings in Equinox Gold were worth $1,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its position in Equinox Gold by 191.2% in the second quarter. ORG Partners LLC now owns 7,570 shares of the company's stock worth $43,000 after acquiring an additional 4,970 shares in the last quarter. Continuum Advisory LLC grew its position in Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after acquiring an additional 2,620 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in Equinox Gold in the second quarter worth about $58,000. Mesirow Financial Investment Management Inc. purchased a new position in Equinox Gold in the first quarter worth about $69,000. Finally, Farther Finance Advisors LLC purchased a new position in Equinox Gold in the second quarter worth about $69,000. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Performance

Equinox Gold stock opened at $11.20 on Friday. The company has a 50 day moving average price of $10.26 and a 200-day moving average price of $7.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. Equinox Gold Corp. has a fifty-two week low of $4.95 and a fifty-two week high of $12.93. The company has a market capitalization of $8.77 billion, a PE ratio of -186.64 and a beta of 1.14.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, beating 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 firm had revenue of $478.64 million during the quarter, compared to the consensus estimate of $470.00 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company's revenue was up 77.7% on a year-over-year basis. As a group, equities analysts forecast that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on EQX. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. Zacks Research lowered Equinox Gold from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. TD Securities restated a "buy" rating on shares of Equinox Gold in a research report on Friday, September 5th. Royal Bank Of Canada upgraded Equinox Gold from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $11.00 to $17.00 in a research report on Wednesday, September 10th. Finally, Cibc World Mkts upgraded Equinox Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

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.

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