Quantbot Technologies LP Raises Stake in Equinox Gold Corp. $EQX

Key Points

• Quantbot Technologies LP increased its stake in Equinox Gold Corp. by 70.9% during the first quarter, now holding 440,161 shares valued at approximately $3 million.
• Institutional investors currently own 38.85% of Equinox Gold, with notable stake increases from Vanguard Group, Dimensional Fund Advisors, and others.
• Equinox Gold reported earnings per share of $0.11 for the quarter, significantly exceeding analyst expectations of $0.02, and the firm anticipates an EPS of 0.85 for the current year.

Quantbot Technologies LP grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 70.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,161 shares of the company's stock after purchasing an additional 182,534 shares during the period. Quantbot Technologies LP owned about 0.10% of Equinox Gold worth $3,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Helikon Investments Ltd boosted its holdings in Equinox Gold by 229.3% during the first quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock worth $38,629,000 after buying an additional 3,909,705 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Equinox Gold by 42.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock worth $35,260,000 after acquiring an additional 2,093,437 shares during the period. American Century Companies Inc. raised its position in shares of Equinox Gold by 88.4% in the first quarter. American Century Companies Inc. now owns 3,660,928 shares of the company's stock worth $25,162,000 after acquiring an additional 1,717,251 shares during the period. Gemsstock Ltd. boosted its stake in shares of Equinox Gold by 64.2% during the 1st quarter. Gemsstock Ltd. now owns 4,198,277 shares of the company's stock worth $28,905,000 after acquiring an additional 1,641,600 shares in the last quarter. Finally, Compass Rose Asset Management LP grew its position in shares of Equinox Gold by 1,500.0% during the 4th quarter. Compass Rose Asset Management LP now owns 1,600,000 shares of the company's stock valued at $8,032,000 after acquiring an additional 1,500,000 shares during the period. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Price Performance

EQX traded up $0.15 on Tuesday, hitting $8.23. 10,624,066 shares of the company's stock were exchanged, compared to its average volume of 13,917,582. Equinox Gold Corp. has a fifty-two week low of $4.95 and a fifty-two week high of $8.28. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -137.14 and a beta of 1.10. The firm has a 50-day moving average price of $6.50 and a 200-day moving average price of $6.55. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly 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. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. The firm had revenue of $478.64 million for the quarter, compared to the consensus estimate of $470.00 million. During the same period last year, the firm posted ($0.01) earnings per share. The company's revenue for the quarter was up 77.7% on a year-over-year basis. As a group, equities analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

EQX has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Equinox Gold in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Zacks Research upgraded shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, CIBC restated a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

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.