OMERS ADMINISTRATION Corp Takes Position in Equinox Gold Corp. $EQX

Key Points

• OMERS ADMINISTRATION Corp purchased 309,100 shares of Equinox Gold Corp, representing an investment of approximately $2.13 million, which accounts for 0.07% of the company's equity.
• Equinox Gold experienced a significant upgrade from various analysts, with TD Securities changing its rating from "hold" to "buy" and the stock receiving a consensus rating of "Moderate Buy".
• The company's recent earnings report showed a positive trend, with $0.11 EPS for the quarter, surpassing the consensus estimate and reflecting a year-over-year revenue increase of 77.7% to $478.64 million.

OMERS ADMINISTRATION Corp purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 309,100 shares of the company's stock, valued at approximately $2,127,000. OMERS ADMINISTRATION Corp owned about 0.07% of Equinox Gold at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Equinox Gold in the first quarter valued at about $29,000. Continuum Advisory LLC boosted its holdings in Equinox Gold by 53.3% in the first 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. BNP Paribas Financial Markets purchased a new position in Equinox Gold in the fourth quarter valued at about $47,000. Mesirow Financial Investment Management Inc. purchased a new position in Equinox Gold in the first quarter valued at about $69,000. Finally, Wealth Preservation Advisors LLC purchased a new position in Equinox Gold in the first quarter valued at about $79,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

Shares of NYSEAMERICAN EQX traded up $0.38 during trading hours on Tuesday, hitting $9.14. 19,535,242 shares of the company's stock were exchanged, compared to its average volume of 13,379,778. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $9.21. 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 market capitalization of $6.95 billion, a price-to-earnings ratio of -152.31 and a beta of 1.11. The company's 50-day moving average price is $6.75 and its 200-day moving average price is $6.65.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Securities raised Equinox Gold from a "hold" rating to a "buy" rating in a report on Wednesday, July 16th. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. Zacks Research raised Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. CIBC reaffirmed a "neutral" rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, BMO Capital Markets assumed coverage on Equinox Gold in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. One research 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 company's stock. According to MarketBeat.com, the company currently has a consensus 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.