514,257 Shares in Equinox Gold Corp. $EQX Purchased by Muhlenkamp & Co. Inc.

Muhlenkamp & Co. Inc. purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the third quarter, Holdings Channel reports. The fund purchased 514,257 shares of the company’s stock, valued at approximately $5,770,000. Equinox Gold makes up about 1.6% of Muhlenkamp & Co. Inc.’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ruffer LLP grew its holdings in Equinox Gold by 15.4% during the third quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock worth $96,992,000 after acquiring an additional 1,152,288 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Equinox Gold in the 3rd quarter worth approximately $6,991,000. Maple Rock Capital Partners Inc. grew its stake in shares of Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after purchasing an additional 7,229,260 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Equinox Gold by 70.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after purchasing an additional 390,000 shares during the period. Finally, All Terrain Financial Advisors LLC purchased a new position in shares of Equinox Gold during the 2nd quarter valued at approximately $498,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Stock Up 3.9%

EQX stock opened at $15.65 on Thursday. The stock has a market capitalization of $12.30 billion, a P/E ratio of 313.06 and a beta of 1.24. The firm has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $12.16. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Equinox Gold Corp. has a 52 week low of $5.59 and a 52 week high of $17.40.

Wall Street Analyst Weigh In

EQX has been the topic of a number of recent analyst reports. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a report on Tuesday, December 2nd. They set a “buy” rating on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Equinox Gold Company Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.