Equinox Gold Corp. $EQX Position Lifted by American Century Companies Inc.

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 13F filing with the Securities and Exchange Commission. The fund owned 3,660,928 shares of the company's stock after buying an additional 1,717,251 shares during the quarter. American Century Companies Inc. owned about 0.80% of Equinox Gold worth $25,162,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EQX. Tobam purchased a new stake in shares of Equinox Gold during the 1st quarter worth approximately $29,000. Parvin Asset Management LLC purchased a new stake in Equinox Gold in the 4th quarter valued at $38,000. BNP Paribas Financial Markets purchased a new stake in Equinox Gold in the 4th quarter valued at $47,000. Continuum Advisory LLC raised its position in Equinox Gold by 53.3% in the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Equinox Gold in the 1st quarter valued at $69,000. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Down 0.4%

Shares of NYSEAMERICAN EQX traded down $0.04 during trading on Wednesday, reaching $8.20. 4,528,868 shares of the stock were exchanged, compared to its average volume of 12,215,879. The business's 50-day moving average price is $6.50 and its 200 day moving average price is $6.55. Equinox Gold Corp. has a twelve month low of $4.95 and a twelve month high of $8.28. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of -136.56 and a beta of 1.10.

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

Analysts Set New Price Targets

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

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.