National Bank of Canada FI Cuts Position in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Key Points

• National Bank of Canada FI reduced its stake in Equinox Gold Corp. by 21.7%, selling 337,317 shares during the 1st quarter, leaving it with approximately 1.2 million shares worth about $8.35 million.
• Institutional investors collectively own 38.85% of Equinox Gold, with other firms such as Swiss National Bank and Vanguard Group significantly increasing their holdings during the same period.
• Analysts have a consensus rating of "Moderate Buy" on Equinox Gold, with an average price target of $35.00 and several upgrades from firms like TD Securities and BMO Capital Markets.

National Bank of Canada FI reduced its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,218,219 shares of the company's stock after selling 337,317 shares during the period. National Bank of Canada FI owned about 0.27% of Equinox Gold worth $8,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank boosted its holdings in Equinox Gold by 3.8% in the first quarter. Swiss National Bank now owns 754,690 shares of the company's stock valued at $5,190,000 after acquiring an additional 27,600 shares during the last quarter. CenterBook Partners LP boosted its holdings in Equinox Gold by 8.6% in the first quarter. CenterBook Partners LP now owns 3,249,654 shares of the company's stock valued at $22,358,000 after acquiring an additional 256,630 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Equinox Gold by 7.4% in the first quarter. Vanguard Group Inc. now owns 14,852,614 shares of the company's stock valued at $102,082,000 after acquiring an additional 1,029,738 shares during the last quarter. Ruffer LLP boosted its holdings in Equinox Gold by 194.5% in the first quarter. Ruffer LLP now owns 1,776,730 shares of the company's stock valued at $12,221,000 after acquiring an additional 1,173,460 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in Equinox Gold in the first quarter valued at approximately $8,832,000. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Stock Up 2.0%

Shares of EQX stock traded up $0.16 during mid-day trading on Friday, hitting $7.98. The company's stock had a trading volume of 23,249,719 shares, compared to its average volume of 13,011,830. Equinox Gold Corp. has a 52-week low of $4.95 and a 52-week high of $8.16. The business has a 50-day moving average price of $6.32 and a 200 day moving average price of $6.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.50 and a current ratio of 0.85. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -132.98 and a beta of 1.10.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its quarterly earnings data 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 business 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 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 quarter in the previous year, the company posted ($0.01) EPS. Research analysts predict that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on EQX. Cormark upgraded Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday. BMO Capital Markets initiated coverage on Equinox Gold in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. TD Securities upgraded Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. National Bankshares restated an "outperform" rating on shares of Equinox Gold in a research note on Friday. Finally, CIBC restated a "neutral" rating on shares of Equinox Gold in a research note on Tuesday, July 15th. Two investment 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. According to MarketBeat.com, Equinox Gold currently has an average rating of "Moderate Buy" and an average target price 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.