Invenomic Capital Management LP Buys 269,975 Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX)

Invenomic Capital Management LP boosted its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 28.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,220,841 shares of the company’s stock after buying an additional 269,975 shares during the quarter. Invenomic Capital Management LP’s holdings in Equinox Gold were worth $6,129,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EQX. Donald Smith & CO. Inc. boosted its holdings in Equinox Gold by 49.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 26,999,983 shares of the company’s stock valued at $135,540,000 after acquiring an additional 8,949,544 shares during the period. Invesco Ltd. boosted its stake in shares of Equinox Gold by 41.3% during the fourth quarter. Invesco Ltd. now owns 9,029,240 shares of the company’s stock valued at $45,327,000 after purchasing an additional 2,640,109 shares during the period. Phoenix Financial Ltd. bought a new position in shares of Equinox Gold in the fourth quarter worth about $11,044,000. Helikon Investments Ltd purchased a new position in Equinox Gold in the 4th quarter worth about $8,559,000. Finally, Compass Rose Asset Management LP lifted its holdings in Equinox Gold by 1,500.0% during the 4th quarter. Compass Rose Asset Management LP now owns 1,600,000 shares of the company’s stock valued at $8,032,000 after buying an additional 1,500,000 shares in the last quarter. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Performance

Shares of NYSEAMERICAN:EQX opened at $6.44 on Friday. The firm has a 50 day moving average of $6.64 and a 200 day moving average of $6.06. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 11.93 and a beta of 1.33. Equinox Gold Corp. has a 52 week low of $4.48 and a 52 week high of $7.45.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, May 7th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 3.20% and a net margin of 17.81%. The firm had revenue of $423.72 million during the quarter, compared to the consensus estimate of $404.00 million. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. The business’s revenue for the quarter was up 75.6% compared to the same quarter last year. On average, sell-side analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EQX shares. National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a research note on Friday, March 21st. TD Cowen started coverage on Equinox Gold in a report on Tuesday, February 4th. They issued a “hold” rating and a $35.00 target price for the company. Finally, TD Securities raised shares of Equinox Gold to a “hold” rating in a research note on Tuesday, February 4th.

Equinox Gold Company 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.