Equinox Gold Corp. $EQX Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Equinox Gold Corp. by 50.1%, purchasing an additional 215,927 shares to bring its total holdings to 646,649 shares valued at $4.4 million.
• Equinox Gold reported a $0.11 earnings per share for the latest quarter, exceeding the consensus estimate and showing a 77.7% year-over-year revenue increase to $478.64 million.
• The company's stock currently holds an average rating of "Moderate Buy" from analysts, with an average target price of $35.00.

LPL Financial LLC raised its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 646,649 shares of the company's stock after purchasing an additional 215,927 shares during the quarter. LPL Financial LLC owned 0.14% of Equinox Gold worth $4,449,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EQX. Tobam bought a new position in Equinox Gold during the 1st quarter worth about $29,000. Parvin Asset Management LLC bought a new position in Equinox Gold in the fourth quarter worth approximately $38,000. BNP Paribas Financial Markets bought a new position in Equinox Gold in the fourth quarter worth approximately $47,000. Continuum Advisory LLC lifted its holdings in Equinox Gold by 53.3% during the first quarter. Continuum Advisory LLC now owns 7,540 shares of the company's stock worth $52,000 after buying an additional 2,620 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in Equinox Gold during the 4th quarter valued at $56,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

EQX stock traded down $0.21 during mid-day trading on Tuesday, reaching $7.76. The company's stock had a trading volume of 3,114,002 shares, compared to its average volume of 12,201,913. Equinox Gold Corp. has a fifty-two week low of $4.95 and a fifty-two week high of $8.16. The stock has a market cap of $5.89 billion, a PE ratio of -128.90 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.50 and a debt-to-equity ratio of 0.38. The company's 50 day moving average is $6.34 and its two-hundred day moving average is $6.46.

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. The business 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 4.06% and a negative net margin of 1.21%. The company's revenue was up 77.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Equities research analysts expect that Equinox Gold Corp. will post 0.85 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. Cormark upgraded shares of Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday. BMO Capital Markets initiated coverage on Equinox Gold in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a 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. Three research 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 company. Based on data from MarketBeat, Equinox Gold currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

About Equinox Gold

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.