Goehring & Rozencwajg Associates LLC Raises Position in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Goehring & Rozencwajg Associates LLC boosted its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 2.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,562,929 shares of the company’s stock after buying an additional 34,373 shares during the period. Equinox Gold comprises 2.0% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 18th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Equinox Gold were worth $10,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Equinox Gold in the 4th quarter valued at $5,304,000. Vanguard Group Inc. raised its position in shares of Equinox Gold by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 13,822,876 shares of the company’s stock valued at $69,626,000 after buying an additional 236,455 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Equinox Gold in the fourth quarter worth about $95,000. Charles Schwab Investment Management Inc. raised its holdings in Equinox Gold by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 931,677 shares of the company’s stock valued at $4,690,000 after acquiring an additional 17,886 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Equinox Gold in the 4th quarter worth approximately $3,085,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Price Performance

EQX stock opened at $5.80 on Friday. Equinox Gold Corp. has a 52-week low of $4.48 and a 52-week high of $7.45. The company has a quick ratio of 0.50, a current ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 11.60 and a beta of 1.11. The business has a fifty day moving average of $6.41 and a two-hundred day moving average of $6.19.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.19). Equinox Gold had a return on equity of 2.20% and a net margin of 13.96%. The business had revenue of $423.72 million for the quarter, compared to analyst estimates of $404.00 million. During the same period in the previous year, the business posted ($0.13) earnings per share. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year. As a group, research analysts anticipate that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on EQX shares. BMO Capital Markets assumed coverage on Equinox Gold in a report on Wednesday, June 18th. They issued an “outperform” rating for the company. National Bankshares reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, June 13th. CIBC reissued a “neutral” rating on shares of Equinox Gold in a research report on Friday, June 13th. Finally, National Bank Financial upgraded shares of Equinox Gold to a “strong-buy” rating in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinox Gold has an average rating of “Moderate Buy” and an average target price of $35.00.

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.