Equinox Gold Corp. $EQX Stake Increased 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 grew its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 25.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,604 shares of the company's stock after buying an additional 48,702 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Equinox Gold worth $1,640,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EQX. Geode Capital Management LLC increased its stake in Equinox Gold by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 178,818 shares of the company's stock valued at $911,000 after purchasing an additional 6,351 shares in the last quarter. Wells Fargo & Company MN increased its stake in Equinox Gold by 16.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,358 shares of the company's stock valued at $102,000 after purchasing an additional 2,855 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Equinox Gold by 59.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 41,178 shares of the company's stock valued at $207,000 after purchasing an additional 15,425 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Equinox Gold in the 4th quarter valued at approximately $3,085,000. Finally, Mariner LLC purchased a new position in Equinox Gold in the 4th quarter valued at approximately $128,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Equinox Gold Price Performance

EQX traded up $0.49 during trading on Friday, reaching $8.76. The stock had a trading volume of 16,048,229 shares, compared to its average volume of 13,672,154. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of -145.98 and a beta of 1.10. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $8.76. The stock has a 50 day moving average of $6.63 and a two-hundred day moving average of $6.61.

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, topping analysts' consensus estimates of $0.02 by $0.09. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.The firm had revenue of $478.64 million during 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 firm's revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, equities analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Equinox Gold 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.