Sprott Inc. Has $38.04 Million Holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Sprott Inc. lessened its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 6.0% in the 4th quarter, Holdings Channel reports. The fund owned 7,560,059 shares of the company’s stock after selling 480,811 shares during the period. Equinox Gold makes up approximately 2.3% of Sprott Inc.’s investment portfolio, making the stock its 11th biggest holding. Sprott Inc.’s holdings in Equinox Gold were worth $38,038,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Equinox Gold by 719.4% in the 4th quarter. Bank of New York Mellon Corp now owns 154,650 shares of the company’s stock worth $776,000 after acquiring an additional 135,776 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Equinox Gold by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 537,896 shares of the company’s stock valued at $2,703,000 after purchasing an additional 17,017 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Equinox Gold in the fourth quarter worth approximately $462,000. Choreo LLC acquired a new stake in shares of Equinox Gold during the fourth quarter worth approximately $63,000. Finally, Helikon Investments Ltd acquired a new stake in shares of Equinox Gold during the fourth quarter worth approximately $8,559,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Equinox Gold in a research note on Tuesday, February 4th. They issued a “hold” rating and a $35.00 price objective on the stock. TD Securities upgraded Equinox Gold to a “hold” rating in a report on Tuesday, February 4th.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $6.48 on Wednesday. The company has a market capitalization of $2.95 billion, a P/E ratio of 12.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.85. Equinox Gold Corp. has a 52 week low of $3.95 and a 52 week high of $7.22.

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.