American Century Companies Inc. Increases Stock Holdings in Equinox Gold Corp. $EQX

Key Points

• American Century Companies Inc. increased its stake in Equinox Gold Corp. by 88.4% during the first quarter, owning approximately $25.2 million worth of shares.
• Analysts have mixed ratings for Equinox Gold, with a consensus rating of "Moderate Buy" and an average price target of $35.00.
• Equinox Gold reported a 77.7% year-over-year revenue increase and earnings of $0.11 per share, surpassing analysts' expectations of $0.02.

American Century Companies Inc. lifted its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 88.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,660,928 shares of the company's stock after acquiring an additional 1,717,251 shares during the period. American Century Companies Inc. owned approximately 0.80% of Equinox Gold worth $25,162,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Tobam bought a new stake in shares of Equinox Gold during the first quarter worth $29,000. Continuum Advisory LLC increased its position in shares of 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 acquiring an additional 2,620 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of Equinox Gold during the fourth quarter worth $38,000. BNP Paribas Financial Markets bought a new stake in shares of Equinox Gold during the fourth quarter worth $47,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Equinox Gold during the first quarter worth $69,000. Institutional investors own 38.85% of the company's stock.

Wall Street Analyst Weigh In

EQX has been the subject of a number of analyst reports. Zacks Research raised shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. Finally, BMO Capital Markets started coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Stock Up 0.2%

Shares of Equinox Gold stock traded up $0.02 during trading on Thursday, reaching $8.22. 2,007,723 shares of the company traded hands, compared to its average volume of 12,164,103. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $8.30. The company has a 50 day moving average price of $6.54 and a 200-day moving average price of $6.56. The firm has a market capitalization of $6.24 billion, a PE ratio of -136.89 and a beta of 1.10.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.09. The business had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. Equinox Gold's quarterly revenue was up 77.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, equities research analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

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.