Equinox Gold Corp. $EQX Shares Purchased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased their stake in Equinox Gold Corp. by 371.3%, acquiring 41,400 shares to bring their total to 52,550 shares valued at $362,000.
• Equinox Gold received multiple upgrades from analysts, with ratings improving to moderate buy and buy, and a consensus price target of $35.00.
• After reporting an earnings beat with $0.11 EPS and a revenue of $478.64 million, Equinox Gold's stock rose by 5.9% to open at $8.76.

Gamco Investors INC. ET AL raised its position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 371.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,550 shares of the company's stock after purchasing an additional 41,400 shares during the period. Gamco Investors INC. ET AL's holdings in Equinox Gold were worth $362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in Equinox Gold in the 4th quarter valued at about $95,000. Vanguard Group Inc. lifted its holdings in Equinox Gold by 7.4% in the 1st quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock valued at $102,082,000 after purchasing an additional 1,029,738 shares in the last quarter. Deutsche Bank AG lifted its holdings in Equinox Gold by 67.1% in the 4th quarter. Deutsche Bank AG now owns 39,222 shares of the company's stock valued at $197,000 after purchasing an additional 15,749 shares in the last quarter. Bank of America Corp DE lifted its holdings in Equinox Gold by 134.2% in the 4th quarter. Bank of America Corp DE now owns 327,058 shares of the company's stock valued at $1,642,000 after purchasing an additional 187,432 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Equinox Gold by 16.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,358 shares of the company's stock valued at $102,000 after purchasing an additional 2,855 shares in the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on EQX shares. CIBC restated a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. Finally, BMO Capital Markets began coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. One 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Equinox Gold Stock Performance

Shares of EQX traded up $0.38 during trading hours on Tuesday, reaching $9.14. 19,535,242 shares of the company's stock traded hands, compared to its average volume of 13,379,778. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -152.31 and a beta of 1.11. 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 twelve month low of $4.95 and a twelve month high of $9.21. The business's fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $6.65.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued 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 company had revenue of $478.64 million for the quarter, compared to analyst estimates of $470.00 million. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.The company's quarterly revenue was up 77.7% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. Analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current 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.