Sprott Inc. Sells 3,114,901 Shares of 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. trimmed its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 41.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,445,158 shares of the company's stock after selling 3,114,901 shares during the quarter. Equinox Gold accounts for approximately 1.7% of Sprott Inc.'s portfolio, 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 reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in Equinox Gold by 70.9% during the 1st quarter. Quantbot Technologies LP now owns 440,161 shares of the company's stock worth $3,028,000 after acquiring an additional 182,534 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Equinox Gold by 19.4% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 36,082 shares of the company's stock worth $248,000 after acquiring an additional 5,858 shares during the last quarter. American Century Companies Inc. boosted 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 worth $25,162,000 after acquiring an additional 1,717,251 shares during the last quarter. Persistent Asset Partners Ltd boosted its holdings in Equinox Gold by 33.2% during the 1st quarter. Persistent Asset Partners Ltd now owns 76,032 shares of the company's stock worth $523,000 after acquiring an additional 18,960 shares during the last quarter. Finally, Rathbones Group PLC boosted its holdings in Equinox Gold by 1.7% during the 1st quarter. Rathbones Group PLC now owns 108,129 shares of the company's stock worth $743,000 after acquiring an additional 1,825 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

Shares of EQX traded down $0.07 during midday trading on Wednesday, hitting $8.17. 3,876,509 shares of the company traded hands, compared to its average volume of 12,213,209. The stock has a 50-day moving average of $6.50 and a 200-day moving average of $6.55. Equinox Gold Corp. has a one year low of $4.95 and a one year high of $8.28. The firm has a market cap of $6.20 billion, a P/E ratio of -135.89 and a beta of 1.10. 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 (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The firm had revenue of $478.64 million for the quarter, compared to analysts' expectations 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 revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. As a group, sell-side analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. BMO Capital Markets started coverage on shares of Equinox Gold in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Finally, National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Equinox Gold 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.