Invesco Ltd. Acquires 64,101 Shares of Equinox Gold Corp. $EQX

Key Points

• Invesco Ltd. increased its stake in Equinox Gold Corp. by 0.7% during Q1, acquiring an additional 64,101 shares to hold approximately 9,093,341 shares valued at $62.56 million.
• Equinox Gold's quarterly earnings beat expectations with an EPS of $0.11, significantly up from a loss of ($0.01) in the same period last year, alongside a 77.7% year-over-year revenue increase to $478.64 million.
• Institutional investors now control 38.85% of Equinox Gold's stock, with Vanguard and Mackenzie Financial showing notable increases in their holdings during recent quarters.

Invesco Ltd. lifted its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,093,341 shares of the company's stock after buying an additional 64,101 shares during the quarter. Invesco Ltd. owned approximately 2.00% of Equinox Gold worth $62,562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tobam purchased a new stake in shares of Equinox Gold in the 1st quarter worth about $29,000. Continuum Advisory LLC grew its position in Equinox Gold by 53.3% during the 1st 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 last quarter. Parvin Asset Management LLC purchased a new stake in Equinox Gold during the 4th quarter valued at about $38,000. BNP Paribas Financial Markets purchased a new stake in Equinox Gold during the 4th quarter valued at about $47,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Equinox Gold during the 1st quarter valued at about $69,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Trading Up 1.9%

NYSEAMERICAN EQX traded up $0.15 on Thursday, hitting $7.90. 10,110,992 shares of the stock were exchanged, compared to its average volume of 13,804,883. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.50 and a current ratio of 0.94. The stock has a fifty day moving average price of $6.39 and a two-hundred day moving average price of $6.50. The firm has a market capitalization of $6.00 billion, a P/E ratio of -131.64 and a beta of 1.10. Equinox Gold Corp. has a 52-week low of $4.95 and a 52-week high of $8.16.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. The company had revenue of $478.64 million during the quarter, compared to analyst estimates of $470.00 million. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. Equinox Gold's quarterly revenue was up 77.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) earnings per share. Research analysts forecast that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EQX. TD Securities raised shares of Equinox Gold from a "hold" rating to a "buy" rating in a research report on Wednesday, July 16th. CIBC reissued a "neutral" rating on shares of Equinox Gold in a research report on Tuesday, July 15th. BMO Capital Markets began coverage on shares of Equinox Gold in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. National Bankshares reissued an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 15th. Finally, Zacks Research raised shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.