Deutsche Bank AG acquired 8,537,176 shares of Equinox Gold Corp. during the second quarter. A recent filing with the Securities and Exchange Commission confirmed the transaction.
The new stake is valued at approximately $82.98 million. This acquisition gives the bank ownership of about 1.08% of the company.
The move signals a strong vote of confidence in the gold producer from a prominent institutional investor. Other hedge funds and institutional investors have also recently adjusted their positions in Equinox Gold.