Equinox Gold Corp. $EQX Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• British Columbia Investment Management Corp increased its stake in Equinox Gold Corp by 25.6%, owning 238,604 shares valued at approximately $1.64 million.
• Equinox Gold reported a 77.7% year-over-year revenue growth, with quarterly revenue reaching $478.64 million and earnings per share of $0.11, exceeding estimates.
• Several institutional investors have significantly increased their holdings in Equinox Gold, with 38.85% of the stock owned by hedge funds and other institutional investors.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 25.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,604 shares of the company's stock after purchasing an additional 48,702 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Equinox Gold worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Groupe la Francaise boosted its position in Equinox Gold by 3.1% during the 1st quarter. Groupe la Francaise now owns 670,000 shares of the company's stock worth $4,716,000 after purchasing an additional 20,000 shares during the period. Quantbot Technologies LP boosted its position in Equinox Gold by 70.9% during the 1st quarter. Quantbot Technologies LP now owns 440,161 shares of the company's stock worth $3,028,000 after purchasing an additional 182,534 shares during the period. Northwest & Ethical Investments L.P. boosted its position in Equinox Gold by 19.4% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 36,082 shares of the company's stock worth $248,000 after purchasing an additional 5,858 shares during the period. American Century Companies Inc. boosted its position in Equinox Gold by 88.4% during the 1st quarter. American Century Companies Inc. now owns 3,660,928 shares of the company's stock worth $25,162,000 after purchasing an additional 1,717,251 shares during the period. Finally, Persistent Asset Partners Ltd boosted its position in Equinox Gold by 33.2% during the 1st quarter. Persistent Asset Partners Ltd now owns 76,032 shares of the company's stock worth $523,000 after purchasing an additional 18,960 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on EQX shares. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Zacks Research raised shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. Finally, Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Equinox Gold Stock Up 5.9%

NYSEAMERICAN EQX traded up $0.49 during trading hours on Monday, reaching $8.76. 16,048,229 shares of the company traded hands, compared to its average volume of 13,904,256. Equinox Gold Corp. has a 12 month low of $4.95 and a 12 month high of $8.76. 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 stock has a market capitalization of $6.66 billion, a PE ratio of -145.98 and a beta of 1.11. The company has a 50 day moving average of $6.69 and a two-hundred day moving average of $6.63.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its 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 analyst estimates of $470.00 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The firm's revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, equities analysts expect 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.