Equinox Gold Corp. $EQX Stock: CenterBook Partners LP Trims Stake

CenterBook Partners LP reduced its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 74.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,609 shares of the company’s stock after selling 739,026 shares during the period. CenterBook Partners LP’s holdings in Equinox Gold were worth $2,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EQX. Van ECK Associates Corp lifted its position in shares of Equinox Gold by 2.8% during the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock worth $849,875,000 after purchasing an additional 2,355,044 shares during the last quarter. Deutsche Bank AG bought a new stake in Equinox Gold in the second quarter valued at about $82,981,000. Amundi raised its stake in Equinox Gold by 25.2% during the second quarter. Amundi now owns 5,307,103 shares of the company’s stock valued at $51,585,000 after buying an additional 1,067,139 shares in the last quarter. Euro Pacific Asset Management LLC raised its stake in Equinox Gold by 66.9% during the third quarter. Euro Pacific Asset Management LLC now owns 4,181,021 shares of the company’s stock valued at $46,451,000 after buying an additional 1,676,488 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Equinox Gold during the second quarter valued at approximately $40,220,000. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $11.52 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. Equinox Gold Corp. has a fifty-two week low of $8.48 and a fifty-two week high of $18.96. The firm has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $12.67. The company has a market cap of $13.46 billion, a PE ratio of 11.52 and a beta of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. The business had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. During the same quarter last year, the company earned $0.11 EPS. Equinox Gold’s revenue was up 60.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Equinox Gold Corp. will post 0.95 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on EQX shares. Royal Bank Of Canada increased their target price on Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, October 16th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 21st. Finally, TD Securities restated a “buy” rating on shares of Equinox Gold in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Equinox Gold Company Profile