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Massif Capital: “Equinox Gold (EQX) Remains One of Our Higher Conviction Positions”

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Jose Karlo Mari Tottoc
·3 min read
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Massif Capital, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio was highly volatile during the first quarter. A net return of 3.45% was reported by the fund for the Q1 of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Massif Capital, in their Q1 2021 investor letter, mentioned Equinox Gold Corp. (NYSE: EQX) and shared their insights on the company. Equinox Gold Corp. is a Vancouver, Canada-based mining company that currently has a $2.6 billion market capitalization. Since the beginning of the year, EQX delivered a -13.30% return, while its 12-month gains are up by 21.15%. As of April 15, 2021, the stock closed at $8.92 per share.

Here is what Massif Capital has to say about Equinox Gold Corp. in their Q1 2021 investor letter:

"Equinox Gold remains one of our higher conviction positions. Not only does the management team fill us with confidence because of their continuously thoughtful moves to build the business, but within the gold industry, we struggle to find any firm with comparable growth potential from existing assets. The transactions the firm has undertaken over the last three years to build the business have all came at the market and with either significant shovel-ready brownfield expansion potential, most of which management is undertaking, or greenfield opportunities. Between now and 2025, Equinox will more than double its current annual gold production."

Best Precious Metal Stocks To Buy Now
Best Precious Metal Stocks To Buy Now

Copyright: tomas1111 / 123RF Stock Photo

Our calculations show that Equinox Gold Corp. (NYSE: EQX) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Equinox Gold Corp. was in 17 hedge fund portfolios, compared to 16 funds in the third quarter. EQX delivered a -10.86% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.