Equinox Gold Corp. $EQX Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 70.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 941,985 shares of the company’s stock after acquiring an additional 390,000 shares during the period. Allspring Global Investments Holdings LLC owned about 0.12% of Equinox Gold worth $10,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQX. Maple Rock Capital Partners Inc. lifted its position in shares of Equinox Gold by 102.1% during the second 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. All Terrain Financial Advisors LLC acquired a new position in shares of Equinox Gold in the second quarter valued at approximately $498,000. PKO Investment Management Joint Stock Co increased its stake in 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 buying an additional 94,500 shares during the period. Ruffer LLP increased its stake in Equinox Gold by 322.1% during the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock worth $43,267,000 after buying an additional 5,722,871 shares during the period. Finally, Credit Industriel ET Commercial acquired a new stake in Equinox Gold during the 2nd quarter worth approximately $149,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EQX shares. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Stifel Canada upgraded Equinox Gold to a “strong-buy” rating in a report on Monday, December 1st. Stifel Nicolaus began coverage on Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating for the company. Cibc Captl Mkts downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Scotiabank raised Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Equinox Gold Stock Performance

Shares of EQX stock opened at $14.29 on Tuesday. Equinox Gold Corp. has a 12 month low of $5.04 and a 12 month high of $15.10. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The company has a market cap of $11.22 billion, a P/E ratio of 285.86 and a beta of 1.25. The firm has a fifty day moving average price of $13.18 and a 200 day moving average price of $10.16.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $819.01 million during the quarter, compared to the consensus estimate 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. Sell-side analysts predict that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

Equinox Gold Company Profile

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.