L1 Capital Pty Ltd Has $74.63 Million Stake in Equinox Gold Corp. $EQX

L1 Capital Pty Ltd grew its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 111.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,848,019 shares of the company’s stock after acquiring an additional 5,710,310 shares during the period. Equinox Gold comprises approximately 7.0% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 8th biggest holding. L1 Capital Pty Ltd owned approximately 2.38% of Equinox Gold worth $74,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EQX. Wells Fargo & Company MN raised its stake in Equinox Gold by 16.3% in the fourth quarter. Wells Fargo & Company MN now owns 20,358 shares of the company’s stock worth $102,000 after buying an additional 2,855 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Equinox Gold by 59.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 41,178 shares of the company’s stock worth $207,000 after buying an additional 15,425 shares in the last quarter. Mariner LLC bought a new position in Equinox Gold in the fourth quarter worth approximately $128,000. Marshall Wace LLP raised its stake in Equinox Gold by 77.7% in the fourth quarter. Marshall Wace LLP now owns 29,740 shares of the company’s stock worth $149,000 after buying an additional 13,004 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Equinox Gold by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,160,605 shares of the company’s stock worth $45,985,000 after buying an additional 750,300 shares in the last quarter. Institutional investors own 38.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. National Bankshares reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 15th. Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. BMO Capital Markets assumed coverage on shares of Equinox Gold in a research note on Wednesday, June 18th. They issued an “outperform” rating for the company. TD Securities raised shares of Equinox Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, July 16th. Finally, CIBC reaffirmed a “neutral” rating on shares of Equinox Gold in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $8.76 on Monday. The firm’s fifty day simple moving average is $6.63 and its two-hundred day simple moving average is $6.61. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 0.29. Equinox Gold Corp. has a 12-month low of $4.95 and a 12-month high of $8.76. The firm has a market capitalization of $6.66 billion, a P/E ratio of -145.98 and a beta of 1.11.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $478.64 million for the quarter, compared to analyst estimates of $470.00 million. Equinox Gold had a negative net margin of 1.21% and a positive return on equity of 3.54%. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) earnings per share. Analysts forecast that Equinox Gold Corp. will post 0.85 EPS for the current fiscal year.

Equinox Gold 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.