Parsons Capital Management Inc. RI Has $2.71 Million Stock Position in Equinox Gold Corp. $EQX

Parsons Capital Management Inc. RI grew its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 259.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 470,404 shares of the company’s stock after purchasing an additional 339,404 shares during the quarter. Parsons Capital Management Inc. RI owned about 0.06% of Equinox Gold worth $2,705,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EQX. BNP Paribas Financial Markets acquired a new position in shares of Equinox Gold during the 4th quarter worth approximately $47,000. Bank of America Corp DE increased its position in shares of Equinox Gold by 134.2% during the 4th quarter. Bank of America Corp DE now owns 327,058 shares of the company’s stock worth $1,642,000 after purchasing an additional 187,432 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Equinox Gold by 2.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 137,268 shares of the company’s stock worth $691,000 after purchasing an additional 3,826 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Equinox Gold by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 932,210 shares of the company’s stock worth $4,693,000 after purchasing an additional 20,097 shares during the last quarter. Finally, Veracity Capital LLC increased its position in shares of Equinox Gold by 14.2% during the 1st quarter. Veracity Capital LLC now owns 12,589 shares of the company’s stock worth $87,000 after purchasing an additional 1,564 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on EQX shares. BMO Capital Markets started coverage on Equinox Gold in a research report on Wednesday, June 18th. They set an “outperform” rating on the stock. Cormark upgraded Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. National Bankshares reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 15th. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, CIBC reiterated a “neutral” rating on shares of Equinox Gold in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Stock Performance

EQX opened at $10.89 on Thursday. The business has a fifty day simple moving average of $8.61 and a 200 day simple moving average of $7.21. The company has a market capitalization of $8.53 billion, a PE ratio of -181.47 and a beta of 1.13. Equinox Gold Corp. has a 1 year low of $4.95 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53.

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

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.