Equinox Gold Corp. $EQX Shares Bought by Ruffer LLP

Key Points

• Ruffer LLP significantly increased its stake in Equinox Gold Corp. by 322.1% in Q2, now holding 7,499,601 shares valued at approximately $43.27 million.
• Equinox Gold reported earnings of $0.11 per share for the last quarter, exceeding forecasts and indicating a 77.7% year-over-year revenue increase.
• Analysts have generally rated Equinox Gold positively, with a consensus rating of "Moderate Buy" and a price target of $26.00 for the stock.

Ruffer LLP grew its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 322.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,499,601 shares of the company's stock after buying an additional 5,722,871 shares during the period. Equinox Gold accounts for about 1.9% of Ruffer LLP's holdings, making the stock its 12th biggest holding. Ruffer LLP owned 0.99% of Equinox Gold worth $43,267,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of EQX. Tobam acquired a new stake in shares of Equinox Gold in the first quarter valued at about $29,000. BNP Paribas Financial Markets acquired a new stake in shares of Equinox Gold in the fourth quarter valued at about $47,000. Continuum Advisory LLC raised its position in shares of Equinox Gold by 53.3% in the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock valued at $52,000 after buying an additional 2,620 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Equinox Gold in the first quarter valued at about $69,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Equinox Gold in the second quarter valued at about $69,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Trading Down 2.4%

Shares of EQX stock opened at $10.49 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53. The firm has a market cap of $8.21 billion, a PE ratio of -174.80 and a beta of 1.11. The company has a 50-day moving average of $8.15 and a two-hundred day moving average of $7.06. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $11.15.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.09. The company 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 revenue was up 77.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. On average, analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EQX shares. Royal Bank Of Canada upgraded shares of Equinox Gold from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $11.00 to $17.00 in a research report on Wednesday, September 10th. BMO Capital Markets began coverage on shares of Equinox Gold in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. TD Securities reissued a "buy" rating on shares of Equinox Gold in a report on Friday, September 5th. CIBC reissued a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, Cormark raised shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

About Equinox Gold

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.

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