Muhlenkamp & Co. Inc. Invests $5.77 Million in Equinox Gold Corp. $EQX

Muhlenkamp & Co. Inc. acquired a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 514,257 shares of the company’s stock, valued at approximately $5,770,000. Equinox Gold makes up approximately 1.6% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 24th largest position. Muhlenkamp & Co. Inc. owned approximately 0.07% of Equinox Gold at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in EQX. Smithfield Trust Co purchased a new stake in shares of Equinox Gold in the third quarter worth $43,000. American Capital Advisory LLC purchased a new stake in Equinox Gold during the 2nd quarter valued at about $25,000. SBI Securities Co. Ltd. increased its stake in Equinox Gold by 2,054.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock valued at $27,000 after purchasing an additional 4,479 shares in the last quarter. Kercheville Advisors LLC purchased a new position in Equinox Gold in the third quarter worth about $112,000. Finally, KW Wealth Management LLC bought a new position in shares of Equinox Gold in the third quarter worth approximately $114,000. 38.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQX shares. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating for the company. Finally, Canadian Imperial Bank of Commerce cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Equinox Gold has an average rating of “Moderate Buy” and an average price target of $17.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $15.65 on Thursday. The company has a 50 day moving average price of $14.85 and a 200 day moving average price of $12.16. The firm has a market capitalization of $12.30 billion, a P/E ratio of 313.06 and a beta of 1.24. The company has a quick ratio of 0.62, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Equinox Gold Corp. has a 52 week low of $5.59 and a 52 week high of $17.40.

About Equinox Gold

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.