Equinox Gold Corp. $EQX Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Equinox Gold Corp. by 7.4%, now owning approximately 3.26% of the company, valued at $102 million.
• Equinox Gold has received positive ratings from multiple brokerages, with a consensus rating of "Moderate Buy" and a target price of $35.00.
• For the latest quarter, Equinox Gold reported an earnings per share of $0.11, significantly exceeding estimates, with revenue rising 77.7% year-over-year.

Vanguard Group Inc. lifted its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,852,614 shares of the company's stock after buying an additional 1,029,738 shares during the period. Vanguard Group Inc. owned about 3.26% of Equinox Gold worth $102,082,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Tobam purchased a new position in shares of Equinox Gold during the 1st quarter worth approximately $29,000. Parvin Asset Management LLC purchased a new position in shares of Equinox Gold during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets purchased a new position in shares of Equinox Gold during the 4th quarter worth approximately $47,000. Continuum Advisory LLC raised its stake 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 buying an additional 2,620 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Equinox Gold during the 1st quarter worth approximately $69,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX traded up $0.07 during trading hours on Thursday, reaching $8.27. 9,776,345 shares of the stock were exchanged, compared to its average volume of 13,695,994. The stock has a market capitalization of $6.28 billion, a P/E ratio of -137.81 and a beta of 1.10. The firm has a 50 day simple moving average of $6.58 and a 200-day simple moving average of $6.58. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. Equinox Gold Corp. has a 52 week low of $4.95 and a 52 week high of $8.31.

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

Analyst Upgrades and Downgrades

EQX has been the subject of a number of analyst reports. Zacks Research raised Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a report on Friday, August 15th. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Finally, CIBC restated a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

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.