Donald Smith & CO. Inc. Lowers Stock Holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Key Points

• Donald Smith & CO. Inc. reduced its stake in Equinox Gold by 11.6%, selling over 3 million shares, making it the firm’s 6th largest position.
• Vanguard Group and other institutional investors have increased their holdings in Equinox Gold, with Vanguard boosting its stake by 7.4% and now owning approximately $102 million in shares.
• Equinox Gold reported a loss of $0.08 EPS for the latest quarter, missing estimates, but achieved a 75.6% increase in revenue compared to the prior year.

Donald Smith & CO. Inc. cut its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,863,759 shares of the company's stock after selling 3,136,224 shares during the period. Equinox Gold makes up approximately 4.0% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 6th largest holding. Donald Smith & CO. Inc. owned about 5.24% of Equinox Gold worth $164,183,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQX. Tobam bought a new stake in shares of Equinox Gold in the first quarter valued at about $29,000. Parvin Asset Management LLC bought a new stake in Equinox Gold during the fourth quarter worth about $38,000. BNP Paribas Financial Markets bought a new stake in Equinox Gold during the fourth quarter worth about $47,000. Continuum Advisory LLC raised its holdings in Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in Equinox Gold during the fourth quarter worth about $56,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX traded up $1.03 on Thursday, hitting $7.82. The company's stock had a trading volume of 37,485,883 shares, compared to its average volume of 11,855,278. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $6.30 and a two-hundred day moving average of $6.41. The firm has a market capitalization of $5.94 billion, a P/E ratio of -130.31 and a beta of 1.10. Equinox Gold Corp. has a one year low of $4.95 and a one year high of $7.90.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $470.00 million. Equinox Gold had a positive return on equity of 4.06% and a negative net margin of 1.21%. The business's revenue for the quarter was up 77.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Research analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a report on Friday, June 13th. BMO Capital Markets assumed coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Finally, TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.