Equinox Gold Corp. $EQX Shares Purchased by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 521,511 shares of the company’s stock after buying an additional 51,107 shares during the period. Parsons Capital Management Inc. RI’s holdings in Equinox Gold were worth $5,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Maple Rock Capital Partners Inc. increased 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Equinox Gold by 70.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after purchasing an additional 390,000 shares during the period. All Terrain Financial Advisors LLC acquired a new position in shares of Equinox Gold during the 2nd quarter valued at about $498,000. PKO Investment Management Joint Stock Co lifted its holdings in shares of Equinox Gold by 50.6% during the 2nd quarter. PKO Investment Management Joint Stock Co now owns 281,387 shares of the company’s stock worth $1,617,000 after acquiring an additional 94,500 shares during the period. Finally, Ruffer LLP increased its position in Equinox Gold by 322.1% during the second quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock worth $43,267,000 after purchasing an additional 5,722,871 shares during the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQX. Stifel Nicolaus began coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Scotiabank upgraded Equinox Gold from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Cibc Captl Mkts cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Zacks Research lowered shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $14.24 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. Equinox Gold Corp. has a 1-year low of $5.57 and a 1-year high of $15.16. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 284.86 and a beta of 1.25. The business has a 50-day moving average of $13.85 and a 200-day moving average of $10.76.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. Equinox Gold had a return on equity of 5.57% and a net margin of 2.71%.The firm’s revenue for the quarter was up 91.2% compared to the same quarter last year. On average, equities analysts anticipate that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

About Equinox Gold

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.