Equinox Gold Corp. (NYSEAMERICAN:EQX) Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp reduced its holdings in Equinox Gold Corp by 80.9% in Q1, leaving them with 29,470 shares valued at approximately $203,000.
• Equinox Gold reported a quarterly loss of ($0.08) EPS, missing estimates by ($0.19), though revenue rose 75.6% year-over-year to $423.72 million.
• Analysts rate Equinox Gold as a Moderate Buy with a consensus price target of $35.00, reflecting positive sentiment despite recent earnings miss.

Bank of New York Mellon Corp lowered its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 80.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,470 shares of the company's stock after selling 125,180 shares during the period. Bank of New York Mellon Corp's holdings in Equinox Gold were worth $203,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tobam purchased a new position in shares of Equinox Gold in the first quarter valued at $29,000. Parvin Asset Management LLC purchased a new position in shares of Equinox Gold in the fourth quarter valued at $38,000. BNP Paribas Financial Markets purchased a new position in shares of Equinox Gold in the fourth quarter valued at $47,000. Continuum Advisory LLC boosted its stake 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 purchasing an additional 2,620 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Equinox Gold in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Stock Up 1.6%

NYSEAMERICAN EQX opened at $6.40 on Wednesday. Equinox Gold Corp. has a 12 month low of $4.48 and a 12 month high of $7.45. The company has a market capitalization of $4.86 billion, a P/E ratio of 12.80 and a beta of 1.10. The company's 50 day simple moving average is $6.30 and its 200 day simple moving average is $6.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.85 and a quick ratio of 0.50.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.19). Equinox Gold had a net margin of 13.96% and a return on equity of 2.20%. The business had revenue of $423.72 million for the quarter, compared to analyst estimates of $404.00 million. During the same period in the prior year, the company earned ($0.13) earnings per share. The firm's revenue for the quarter was up 75.6% on a year-over-year basis. Equities research analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on EQX shares. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. BMO Capital Markets started coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research note on Friday, June 13th. Finally, TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Equinox Gold presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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