Credit Industriel ET Commercial Buys New Position in Equinox Gold Corp. $EQX

Key Points

• Credit Industriel ET Commercial has acquired a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by purchasing 25,915 shares worth approximately $149,000 in Q2.
• Equinox Gold posted a quarterly EPS of $0.11, significantly exceeding the consensus estimate of $0.02, alongside a revenue increase of 77.7% compared to the same period last year.
• Equinox Gold's stock has an average analyst rating of "Moderate Buy" with a consensus target price of $26.00, indicating potential growth opportunities.

Credit Industriel ET Commercial bought a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,915 shares of the company's stock, valued at approximately $149,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC boosted its stake in shares of Equinox Gold by 191.2% in the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company's stock valued at $43,000 after buying an additional 4,970 shares during the period. Continuum Advisory LLC lifted its position in shares of Equinox Gold by 53.3% during the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after purchasing an additional 2,620 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in shares of Equinox Gold during the 2nd quarter worth $58,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Equinox Gold during the 1st quarter worth $69,000. Finally, Farther Finance Advisors LLC purchased a new stake in Equinox Gold during the 2nd quarter worth about $69,000. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $12.14 on Tuesday. The company has a 50-day simple moving average of $9.45 and a 200-day simple moving average of $7.47. Equinox Gold Corp. has a one year low of $4.95 and a one year high of $12.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of -202.30 and a beta of 1.14.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $478.64 million during the quarter, compared to the consensus estimate of $470.00 million. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.The firm's revenue was up 77.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. On average, analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EQX shares. CIBC restated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. 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 report on Wednesday, June 18th. They issued an "outperform" rating for the company. Finally, TD Securities reiterated a "buy" rating on shares of Equinox Gold in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.00.

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.

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