Equinox Gold Corp. (NYSEAMERICAN:EQX) is CenterBook Partners LP's 9th Largest Position

Key Points

• CenterBook Partners LP has increased its stake in Equinox Gold Corp. by 8.6%, now holding over 3.2 million shares valued at approximately $22.4 million, making it the firm's 9th largest holding.
• Wall Street analysts have a generally positive outlook on Equinox Gold, with ratings ranging from "hold" to "strong buy," and an average price target of $35.00.
• Equinox Gold reported a significant year-over-year revenue increase of 75.6% but missed EPS estimates for the latest quarter, posting a loss of $0.08 per share.

CenterBook Partners LP lifted its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 8.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,249,654 shares of the company's stock after purchasing an additional 256,630 shares during the period. Equinox Gold comprises about 1.4% of CenterBook Partners LP's holdings, making the stock its 9th largest position. CenterBook Partners LP owned 0.71% of Equinox Gold worth $22,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Equinox Gold by 7.4% during the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock worth $102,082,000 after purchasing an additional 1,029,738 shares in the last quarter. Ruffer LLP grew its holdings in shares of Equinox Gold by 194.5% during the first quarter. Ruffer LLP now owns 1,776,730 shares of the company's stock worth $12,221,000 after buying an additional 1,173,460 shares during the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Equinox Gold during the first quarter worth about $8,832,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Equinox Gold during the first quarter worth about $69,000. Finally, LPL Financial LLC grew its holdings in shares of Equinox Gold by 50.1% during the first quarter. LPL Financial LLC now owns 646,649 shares of the company's stock worth $4,449,000 after buying an additional 215,927 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQX. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a report on Friday, June 13th. CIBC reissued a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. BMO Capital Markets began coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Finally, TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Equinox Gold has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX traded down $0.11 during trading on Friday, reaching $6.44. The company had a trading volume of 14,250,354 shares, compared to its average volume of 11,986,377. Equinox Gold Corp. has a twelve month low of $4.67 and a twelve month high of $7.45. The stock has a market capitalization of $4.89 billion, a PE ratio of 12.88 and a beta of 1.10. The stock has a 50-day moving average price of $6.30 and a two-hundred day moving average price of $6.34. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.38.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The company had revenue of $423.72 million during the quarter, compared to analyst estimates of $404.00 million. During the same period last year, the firm earned ($0.13) earnings per share. The business's revenue was up 75.6% compared to the same quarter last year. As a group, sell-side analysts predict 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.