Equinox Gold Corp. (NYSEAMERICAN:EQX) is Gemsstock Ltd.'s 2nd Largest Position

Key Points

• Gemsstock Ltd. increased its ownership of Equinox Gold Corp. by 64.2%, acquiring 1,641,600 shares to reach a total of 4,198,277 shares, representing 10.9% of its portfolio.
• A number of institutional investors, including Veracity Capital and Continuum Advisory, have also increased their stakes in Equinox Gold during the first quarter.
• Brokerages have given Equinox Gold an average rating of "Moderate Buy", with a target price of $35.00, indicating positive sentiment toward the company's growth prospects.

Gemsstock Ltd. grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 64.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,198,277 shares of the company's stock after purchasing an additional 1,641,600 shares during the period. Equinox Gold comprises approximately 10.9% of Gemsstock Ltd.'s investment portfolio, making the stock its 2nd largest position. Gemsstock Ltd. owned 0.92% of Equinox Gold worth $28,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Helikon Investments Ltd raised its position in shares of Equinox Gold by 229.3% in the 1st quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock worth $38,629,000 after acquiring an additional 3,909,705 shares in the last quarter. Invesco Ltd. increased its holdings in Equinox Gold by 41.3% in the fourth quarter. Invesco Ltd. now owns 9,029,240 shares of the company's stock worth $45,327,000 after purchasing an additional 2,640,109 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Equinox Gold by 42.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock valued at $35,260,000 after buying an additional 2,093,437 shares during the period. Compass Rose Asset Management LP boosted its holdings 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 worth $8,032,000 after buying an additional 1,500,000 shares in the last quarter. Finally, Alpine Associates Management Inc. acquired a new stake in Equinox Gold in the first quarter worth $8,832,000. Institutional investors own 38.85% of the company's stock.

Equinox Gold Trading Up 15.2%

Shares of NYSEAMERICAN EQX traded up $1.03 during trading hours on Thursday, hitting $7.82. The company's stock had a trading volume of 37,485,883 shares, compared to its average volume of 12,186,278. Equinox Gold Corp. has a 12 month low of $4.95 and a 12 month high of $7.90. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 15.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. The business has a 50-day simple moving average of $6.29 and a 200-day simple moving average of $6.39.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced 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 return on equity of 2.20% and a net margin of 13.96%. The company had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm's revenue was up 77.7% on a year-over-year basis. On average, analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EQX shares. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a report on Friday, June 13th. TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. BMO Capital Markets initiated coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Finally, CIBC reissued a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.