Truist Financial Corp Makes New Investment in Equinox Gold Corp. $EQX

Truist Financial Corp purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,253 shares of the company’s stock, valued at approximately $76,000.

Other large investors also recently bought and sold shares of the company. Continuum Advisory LLC increased its holdings in Equinox Gold by 53.3% during the 1st quarter. Continuum Advisory LLC now owns 7,540 shares of the company’s stock worth $52,000 after purchasing an additional 2,620 shares during the period. ORG Partners LLC boosted its position in shares of Equinox Gold by 191.2% during the 2nd quarter. ORG Partners LLC now owns 7,570 shares of the company’s stock worth $43,000 after acquiring an additional 4,970 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new position in shares of Equinox Gold during the 1st quarter worth about $69,000. Vident Advisory LLC acquired a new position in shares of Equinox Gold during the 1st quarter worth about $74,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Equinox Gold during the 1st quarter worth about $79,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Down 5.5%

Shares of NYSEAMERICAN EQX opened at $12.02 on Monday. The stock has a market cap of $9.41 billion, a PE ratio of -200.30 and a beta of 1.14. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. Equinox Gold Corp. has a 52-week low of $4.95 and a 52-week high of $12.93. The business has a 50-day moving average price of $9.91 and a 200 day moving average price of $7.62.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on EQX. Royal Bank Of Canada raised Equinox Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $11.00 to $17.00 in a research report on Wednesday, September 10th. Cibc World Mkts raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. CIBC reaffirmed a “neutral” rating on shares of Equinox Gold in a research report on Tuesday, July 15th. Finally, TD Securities reissued a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

About Equinox Gold

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.