Sprott Inc. Decreases Stock Position in Equinox Gold Corp. $EQX

Key Points

• Sprott Inc. has reduced its stake in Equinox Gold Corp. by 41.2%, holding 4,445,158 shares after selling 3,114,901 in the first quarter, making it the firm's 18th largest position.
• Institutional ownership of Equinox Gold stands at 38.85%, with several firms, including Veracity Capital and Rathbones Group, increasing their stakes in the first quarter.
• Equinox Gold reported earnings of $0.11 per share for the last quarter, significantly exceeding estimates, along with a revenue increase of 77.7% year-over-year.

Sprott Inc. lessened its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 41.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,445,158 shares of the company's stock after selling 3,114,901 shares during the period. Equinox Gold comprises approximately 1.7% of Sprott Inc.'s holdings, making the stock its 18th largest holding. Sprott Inc. owned about 0.98% of Equinox Gold worth $30,561,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EQX. Helikon Investments Ltd increased its holdings in Equinox Gold by 229.3% during the 1st quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock valued at $38,629,000 after purchasing an additional 3,909,705 shares during the period. Mackenzie Financial Corp increased its holdings in Equinox Gold by 42.6% during the 4th quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock valued at $35,260,000 after purchasing an additional 2,093,437 shares during the period. American Century Companies Inc. increased its holdings in Equinox Gold by 88.4% during the 1st quarter. American Century Companies Inc. now owns 3,660,928 shares of the company's stock valued at $25,162,000 after purchasing an additional 1,717,251 shares during the period. Gemsstock Ltd. increased its holdings in Equinox Gold by 64.2% during the 1st quarter. Gemsstock Ltd. now owns 4,198,277 shares of the company's stock valued at $28,905,000 after purchasing an additional 1,641,600 shares during the period. Finally, Compass Rose Asset Management LP increased its holdings in 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 purchasing an additional 1,500,000 shares during the period. Hedge funds and other institutional investors own 38.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQX. BMO Capital Markets began coverage on Equinox Gold in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. National Bankshares reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. Finally, CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a research 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 given a Hold rating to the company's stock. According to data from MarketBeat, Equinox Gold currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Stock Up 1.9%

Shares of EQX traded up $0.15 during mid-day trading on Tuesday, reaching $8.23. The company had a trading volume of 10,623,927 shares, compared to its average volume of 12,263,507. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. The firm has a 50-day moving average price of $6.46 and a 200 day moving average price of $6.53. Equinox Gold Corp. has a 52 week low of $4.95 and a 52 week high of $8.28. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -137.14 and a beta of 1.10.

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, topping 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 firm had revenue of $478.64 million for the quarter, compared to analysts' expectations of $470.00 million. During the same period in the previous year, the firm posted ($0.01) EPS. The business's revenue for the quarter was up 77.7% compared to the same quarter last year. On average, sell-side analysts forecast that Equinox Gold Corp. will post 0.85 EPS 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.