Caption Management LLC Trims Stock Holdings in Equinox Gold Corp. $EQX

Key Points

• Caption Management LLC significantly reduced its stake in Equinox Gold Corp. by 73.9% during the first quarter, holding 37,000 shares worth $255,000 following the sale of 105,000 shares.
• Equinox Gold reported $0.11 earnings per share for the recent quarter, surpassing analyst expectations, and achieved a 77.7% year-over-year revenue increase to $478.64 million.
• Analysts have a consensus rating of "Moderate Buy" for Equinox Gold, with an average price target of $35.00 and several research firms issuing positive ratings recently.

Caption Management LLC cut its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 73.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,000 shares of the company's stock after selling 105,000 shares during the quarter. Caption Management LLC's holdings in Equinox Gold were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tobam purchased a new position in Equinox Gold during the first quarter worth about $29,000. BNP Paribas Financial Markets purchased a new position in Equinox Gold during the fourth quarter worth about $47,000. Continuum Advisory LLC lifted its position in Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after buying an additional 2,620 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in Equinox Gold during the first quarter worth about $69,000. Finally, Vident Advisory LLC acquired a new stake in Equinox Gold during the first quarter worth about $74,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Stock Up 9.0%

Shares of EQX stock traded up $0.81 during trading hours on Friday, reaching $9.78. The company had a trading volume of 32,127,927 shares, compared to its average volume of 13,941,589. 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 twelve month low of $4.95 and a twelve month high of $9.87. The company has a market capitalization of $7.43 billion, a P/E ratio of -162.97 and a beta of 1.11. The stock's fifty day simple moving average is $6.96 and its 200 day simple moving average is $6.71.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 business had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The company's revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, sell-side analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on EQX. BMO Capital Markets began coverage on Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Zacks Research upgraded Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. Finally, National Bankshares restated an "outperform" rating on shares of Equinox Gold 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.00.

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.