Equinox Gold Corp. $EQX Shares Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Equinox Gold Corp. by 92.8% during Q1, bringing its total shares to 162,043 valued at approximately $1.12 million.
• Equinox Gold reported a $0.11 EPS for its latest quarter, exceeding analysts' expectations of $0.02, and its revenue increased by 77.7% year-over-year.
• Analyst ratings for Equinox Gold are generally positive, with an average rating of "Moderate Buy" and a target price of $35.00.

Dynamic Technology Lab Private Ltd grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 92.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 162,043 shares of the company's stock after acquiring an additional 78,011 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Equinox Gold were worth $1,115,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new stake in Equinox Gold during the 1st quarter worth approximately $6,883,000. Invenomic Capital Management LP increased its stake in Equinox Gold by 8.2% during the 1st quarter. Invenomic Capital Management LP now owns 1,320,532 shares of the company's stock worth $9,085,000 after buying an additional 99,691 shares during the period. Eschler Asset Management LLP purchased a new stake in Equinox Gold during the 1st quarter worth approximately $968,000. PDT Partners LLC increased its stake in Equinox Gold by 17.7% during the 1st quarter. PDT Partners LLC now owns 121,453 shares of the company's stock worth $836,000 after buying an additional 18,290 shares during the period. Finally, L1 Capital Pty Ltd increased its stake in Equinox Gold by 111.1% during the 1st quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock worth $74,634,000 after buying an additional 5,710,310 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Stock Down 3.3%

Shares of NYSEAMERICAN:EQX traded down $0.36 during trading hours on Friday, reaching $10.61. The stock had a trading volume of 14,340,197 shares, compared to its average volume of 15,053,770. Equinox Gold Corp. has a 1 year low of $4.95 and a 1 year high of $11.10. The firm's 50 day moving average is $7.42 and its 200-day moving average is $6.83. 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 $8.07 billion, a price-to-earnings ratio of -176.80 and a beta of 1.11.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $478.64 million for the quarter, compared to the consensus estimate of $470.00 million. During the same period in the prior year, the firm posted ($0.01) EPS. The company's quarterly revenue was up 77.7% compared to the same quarter last year. Research analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. TD Securities reaffirmed a "buy" rating on shares of Equinox Gold in a research note on Friday, September 5th. Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. BMO Capital Markets began coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Finally, CIBC reissued a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.