Invenomic Capital Management LP Increases Holdings in Equinox Gold Corp. $EQX

Key Points

• Invenomic Capital Management LP increased its holdings in Equinox Gold Corp. by 8.2% in the 1st quarter, reaching a total of 1,320,532 shares, valued at approximately $9,085,000.
• Several large investors, including Royal Bank of Canada and L1 Capital Pty Ltd, significantly boosted their stakes in Equinox Gold during the same period, indicating strong institutional interest.
• Equinox Gold reported earnings of $0.11 per share for the recent quarter, exceeding analysts' expectations, with a 77.7% year-over-year increase in revenue to $478.64 million.

Invenomic Capital Management LP increased its position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,320,532 shares of the company's stock after acquiring an additional 99,691 shares during the quarter. Invenomic Capital Management LP owned about 0.29% of Equinox Gold worth $9,085,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EQX. Eschler Asset Management LLP bought a new position in Equinox Gold in the 1st quarter worth about $968,000. PDT Partners LLC boosted its stake in Equinox Gold by 17.7% in the 1st quarter. PDT Partners LLC now owns 121,453 shares of the company's stock worth $836,000 after purchasing an additional 18,290 shares during the period. L1 Capital Pty Ltd boosted its stake in Equinox Gold by 111.1% in the 1st quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock worth $74,634,000 after purchasing an additional 5,710,310 shares during the period. Cubist Systematic Strategies LLC bought a new position in Equinox Gold in the 1st quarter worth about $8,457,000. Finally, Royal Bank of Canada boosted its stake in Equinox Gold by 232.7% in the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company's stock worth $3,843,000 after purchasing an additional 390,690 shares during the period. Hedge funds and other institutional investors own 38.85% of the company's stock.

Analyst Ratings Changes

EQX has been the subject of several analyst reports. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 15th. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, Zacks Research upgraded Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Equinox Gold Trading Down 1.5%

Equinox Gold stock opened at $8.97 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29. The business's fifty day simple moving average is $6.88 and its two-hundred day simple moving average is $6.69. Equinox Gold Corp. has a 12 month low of $4.95 and a 12 month high of $9.32. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of -149.48 and a beta of 1.11.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.09. The firm had revenue of $478.64 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 77.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Equinox Gold Company 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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