UMB Bank n.a. Buys New Holdings in Equinox Gold Corp. $EQX

Key Points

• UMB Bank n.a. acquired a new stake in Equinox Gold Corp., buying 34,790 shares valued at approximately $200,000 during the second quarter.
• Equinox Gold reported substantial year-over-year revenue growth of 77.7%, reaching $478.64 million, and exceeded earnings estimates with $0.11 earnings per share for the quarter.
• Various analysts have recently upgraded their ratings on Equinox Gold, with the Royal Bank of Canada raising its price target from $11.00 to $17.00.

UMB Bank n.a. bought a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,790 shares of the company's stock, valued at approximately $200,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 buying an additional 1,029,738 shares during the last quarter. L1 Capital Pty Ltd lifted its holdings in Equinox Gold by 111.1% in the first quarter. L1 Capital Pty Ltd now owns 10,848,019 shares of the company's stock valued at $74,634,000 after acquiring an additional 5,710,310 shares during the period. Invesco Ltd. lifted its holdings in Equinox Gold by 0.7% in the first quarter. Invesco Ltd. now owns 9,093,341 shares of the company's stock valued at $62,562,000 after acquiring an additional 64,101 shares during the period. Helikon Investments Ltd lifted its holdings in Equinox Gold by 229.3% in the first quarter. Helikon Investments Ltd now owns 5,614,735 shares of the company's stock valued at $38,629,000 after acquiring an additional 3,909,705 shares during the period. Finally, Gemsstock Ltd. lifted its holdings in Equinox Gold by 64.2% in the first quarter. Gemsstock Ltd. now owns 4,198,277 shares of the company's stock valued at $28,905,000 after acquiring an additional 1,641,600 shares during the period. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Trading Down 1.7%

Shares of EQX stock opened at $10.75 on Wednesday. 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 company has a market cap of $8.42 billion, a price-to-earnings ratio of -179.14 and a beta of 1.11. The stock has a 50 day simple moving average of $8.07 and a 200-day simple moving average of $7.03. Equinox Gold Corp. has a 1-year low of $4.95 and a 1-year high of $11.15.

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

Wall Street Analyst Weigh In

EQX has been the subject of a number of analyst reports. Royal Bank Of Canada raised Equinox Gold from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $11.00 to $17.00 in a report on Wednesday, September 10th. Cormark raised Equinox Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, August 15th. National Bankshares reissued an "outperform" rating on shares of Equinox Gold 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. Finally, BMO Capital Markets initiated coverage on Equinox Gold in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Equinox Gold has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

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.

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