Public Employees Retirement System of Ohio Invests $815,000 in Equinox Gold Corp.

On December 20th, 2024, it was reported that the Public Employees Retirement System of Ohio has made a new investment in Equinox Gold Corp. (NYSEAMERICAN:EQX). In the third quarter, the fund acquired 133,442 shares of the mining company’s stock, which totals an approximate value of $815,000.

In addition to this investment, several other institutional investors have made changes to their holdings of Equinox Gold. For example, Donald Smith & Company, Inc. increased its stake by 35.5% during the third quarter, now owning 18,050,439 shares valued at around $109,927,000 after purchasing an additional 4,727,570 shares. Similarly, Van ECK Associates Corp boosted its stake by 10.5% in the second quarter, holding 38,166,859 shares worth approximately $199,609,000 after acquiring 3,628,998 additional shares.

Mackenzie Financial Corp also raised its position by 54.6%, now owning 8,953,104 shares valued at about $46,732,000. Gemsstock Ltd. established a new position in Equinox Gold during the same period, valued at approximately $13,045,000. Lastly, Maple Rock Capital Partners Inc. boosted its holdings by 34.4% in the third quarter, resulting in ownership of 9,169,400 shares worth around $55,842,000. Currently, institutional investors and hedge funds own about 38.85% of the company’s stock.

Equinox Gold Performance Overview

On December 20th, Equinox Gold's stock was trading at $5.06. The company has a quick ratio of 0.33, a current ratio of 0.85, and a debt-to-equity ratio of 0.37. Over the past year, the stock has seen a low of $3.95 and a high of $6.50, with a market capitalization of $2.30 billion and a P/E ratio of 10.33. The stock's beta stands at 1.31, indicating some volatility in comparison to the broader market.

Equinox Gold reported its quarterly earnings on November 6th, showing earnings of $0.09 per share. This missed the consensus estimate of $0.10 by a narrow margin of $0.01. The company generated revenues of $428.40 million during that quarter, which fell short of analysts’ expectations of $437.84 million. Despite this, the firm reported a substantial year-over-year revenue growth of 50.5% and a net margin of 19.83%. Analysts predict that Equinox Gold will report earnings of $0.38 per share for the current fiscal year.

About Equinox Gold

Equinox Gold Corp. is involved in exploring, acquiring, developing, and operating mineral properties within the Americas. The company focuses primarily on gold and silver deposits and holds interests in various properties located in California, USA; Guerrero State, Mexico; and several regions in Brazil and Canada.

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