LGT Fund Management Co Ltd. Invests $805,000 in Equinox Gold Corp. $EQX

Key Points

• LGT Fund Management Co Ltd. has invested approximately $805,000 in Equinox Gold Corp by acquiring 140,000 shares in the second quarter.
• Equinox Gold reported a quarterly earnings per share of $0.11, exceeding analysts' estimates, with revenue reaching $478.64 million, up 77.7% from the same quarter last year.
• Analysts have a generally positive outlook on Equinox Gold, with one strong buy rating and an average price target of $26.00.

LGT Fund Management Co Ltd. acquired a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 140,000 shares of the company's stock, valued at approximately $805,000.

Several other large investors also recently made changes to their positions in EQX. Tobam acquired a new stake in shares of Equinox Gold in the first quarter worth $29,000. ORG Partners LLC increased its position in shares of Equinox Gold by 191.2% in the second quarter. ORG Partners LLC now owns 7,570 shares of the company's stock worth $43,000 after acquiring an additional 4,970 shares in the last quarter. Continuum Advisory LLC increased its position in shares of Equinox Gold by 53.3% in 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. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Equinox Gold in the first quarter worth $69,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Equinox Gold in the second quarter worth $69,000. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Stock Down 0.4%

EQX stock opened at $10.89 on Friday. Equinox Gold Corp. has a twelve month low of $4.95 and a twelve month high of $11.52. 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 company has a market capitalization of $8.53 billion, a P/E ratio of -181.47 and a beta of 1.14. The firm has a 50 day simple moving average of $8.79 and a 200-day simple moving average of $7.27.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on EQX. Zacks Research upgraded shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. BMO Capital Markets began coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They set an "outperform" rating on the stock. National Bankshares reiterated an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 15th. CIBC reiterated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Finally, Cormark upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $26.00.

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.

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