Equinox Gold Corp. $EQX Shares Bought by Ruffer LLP

Key Points

• Ruffer LLP boosted its stake in Equinox Gold by 15.4% in Q3 to 8,651,889 shares (adding 1,152,288 shares), making EQX its second-largest holding and roughly 1.10% of the company (about $96.99M).
• Analyst sentiment is mixed but leans positive: Equinox has an average rating of Moderate Buy with an average target price of $26.00, following several recent upgrades and downgrades.
• Equinox reported a strong quarter (EPS $0.19 vs. $0.13 expected; revenue $819.0M, up 91.2% YoY) and trades near its 12‑month high (~$17.12) with a market cap of $13.45 billion and a high P/E of 342.47, highlighting fast growth alongside elevated valuation.

Ruffer LLP increased its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,651,889 shares of the company's stock after purchasing an additional 1,152,288 shares during the quarter. Equinox Gold makes up approximately 5.4% of Ruffer LLP's holdings, making the stock its 2nd largest holding. Ruffer LLP owned 1.10% of Equinox Gold worth $96,992,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. TD Waterhouse Canada Inc. lifted its stake in shares of Equinox Gold by 131.6% during the third quarter. TD Waterhouse Canada Inc. now owns 41,509 shares of the company's stock valued at $453,000 after buying an additional 23,586 shares during the period. Truist Financial Corp grew its position in shares of Equinox Gold by 32.2% in the third quarter. Truist Financial Corp now owns 17,525 shares of the company's stock valued at $197,000 after purchasing an additional 4,272 shares during the period. J. Safra Sarasin Holding AG acquired a new position in Equinox Gold in the third quarter valued at $1,701,000. CIBC Asset Management Inc lifted its position in Equinox Gold by 3.6% during the third quarter. CIBC Asset Management Inc now owns 725,405 shares of the company's stock worth $8,117,000 after buying an additional 25,532 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Equinox Gold in the 3rd quarter worth about $6,991,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EQX shares. BMO Capital Markets reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Tuesday. Zacks Research downgraded shares of Equinox Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th. Cibc Captl Mkts cut shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 15th. Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Monday. Finally, Cibc World Mkts raised Equinox Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Equinox Gold has an average rating of "Moderate Buy" and an average target price of $26.00.

Equinox Gold Stock Up 1.7%

Shares of Equinox Gold stock opened at $17.12 on Thursday. Equinox Gold Corp. has a twelve month low of $5.59 and a twelve month high of $17.20. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 342.47 and a beta of 1.25. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average price of $14.32 and a 200 day moving average price of $11.23.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The company had revenue of $819.01 million for the quarter, compared to analysts' expectations of $607.81 million. The company's quarterly revenue was up 91.2% on a year-over-year basis. Equities research analysts forecast that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Equinox Gold Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold's operating portfolio spans three countries.

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