Nuveen LLC Purchases New Holdings in Equinox Gold Corp. $EQX

Key Points

• Nuveen LLC invested approximately $2.16 million in Equinox Gold Corp. during the first quarter, acquiring 314,557 shares and owning around 0.07% of the company.
• Analysts have improved their outlook on Equinox Gold, with several firms raising ratings to "buy" or "outperform," leading to an average rating of "Moderate Buy" and a consensus target price of $35.00.
• Equinox Gold reported a 77.7% increase in revenue year-over-year, posting $478.64 million in revenue and beating EPS estimates by $0.09.

Nuveen LLC purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 314,557 shares of the company's stock, valued at approximately $2,162,000. Nuveen LLC owned 0.07% of Equinox Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Helikon Investments Ltd lifted its holdings in Equinox Gold by 229.3% during the 1st quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock worth $38,629,000 after buying an additional 3,909,705 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Equinox Gold by 42.6% in the fourth quarter. Mackenzie Financial Corp now owns 7,008,149 shares of the company's stock worth $35,260,000 after acquiring an additional 2,093,437 shares during the period. Compass Rose Asset Management LP lifted its position in shares of Equinox Gold by 1,500.0% in the 4th quarter. Compass Rose Asset Management LP now owns 1,600,000 shares of the company's stock worth $8,032,000 after purchasing an additional 1,500,000 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Equinox Gold in the 1st quarter worth approximately $8,832,000. Finally, Ruffer LLP lifted its position in shares of Equinox Gold by 194.5% in the 1st quarter. Ruffer LLP now owns 1,776,730 shares of the company's stock worth $12,221,000 after purchasing an additional 1,173,460 shares during the period. Institutional investors and hedge funds own 38.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQX. CIBC restated a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. BMO Capital Markets assumed coverage on Equinox Gold in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 15th. Zacks Research raised Equinox Gold from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Equinox Gold Stock Up 4.3%

Shares of NYSEAMERICAN:EQX traded up $0.38 during trading on Tuesday, reaching $9.14. 19,535,242 shares of the stock were exchanged, compared to its average volume of 12,281,940. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53. The stock has a fifty day moving average of $6.69 and a two-hundred day moving average of $6.63. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $9.21. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -152.31 and a beta of 1.11.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its 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 company had revenue of $478.64 million for the quarter, compared to analyst estimates of $470.00 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm's revenue was up 77.7% compared to the same quarter last year. Research analysts anticipate 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.