Hartree Partners LP Sells 111,248 Shares of Equinox Gold Corp. $EQX

Key Points

• Hartree Partners LP reduced its stake in Equinox Gold Corp. by 42.6%, leaving them with 150,000 shares valued at approximately $1.03 million.
• Institutional investors showed varying changes, with Vanguard Group increasing its position by 7.4% to over 14 million shares worth about $102 million.
• Equinox Gold reported a significant growth in revenues, up 77.7% year-over-year, with earnings per share of $0.11 for the latest quarter, exceeding expectations.

Hartree Partners LP decreased its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the company's stock after selling 111,248 shares during the quarter. Hartree Partners LP's holdings in Equinox Gold were worth $1,032,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of EQX. Tobam bought a new stake in shares of Equinox Gold during the first quarter valued at about $29,000. Parvin Asset Management LLC bought a new stake in shares of Equinox Gold during the fourth quarter valued at about $38,000. BNP Paribas Financial Markets bought a new stake in shares of Equinox Gold during the fourth quarter valued at about $47,000. Continuum Advisory LLC raised its stake in shares of Equinox Gold by 53.3% during 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 in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Equinox Gold during the first quarter valued at about $69,000. Institutional investors and hedge funds own 38.85% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EQX. TD Securities upgraded shares of Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Cormark upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. Finally, BMO Capital Markets started coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Equinox Gold currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Stock Up 1.0%

Shares of EQX traded up $0.09 during trading hours on Thursday, reaching $8.29. The company's stock had a trading volume of 5,633,174 shares, compared to its average volume of 12,187,718. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of -138.06 and a beta of 1.10. The company has a 50 day moving average of $6.54 and a two-hundred day moving average of $6.56. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $8.30. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.09. The firm had revenue of $478.64 million during 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 quarter in the prior year, the business earned ($0.01) earnings per share. As a group, research analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

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.