Legal & General Group Plc decreased its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX – Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,998,809 shares of the company’s stock after selling 286,464 shares during the quarter. Legal & General Group Plc’s holdings in Equinox Gold were worth $28,085,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Aventura Private Wealth LLC bought a new stake in Equinox Gold during the 4th quarter worth approximately $28,000. Lodestone Wealth Management LLC purchased a new position in shares of Equinox Gold during the fourth quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Equinox Gold during the fourth quarter valued at approximately $37,000. Banque Cantonale Vaudoise bought a new stake in Equinox Gold during the fourth quarter worth $39,000. Finally, Smithfield Trust Co bought a new stake in Equinox Gold during the third quarter worth $43,000. Institutional investors and hedge funds own 38.85% of the company’s stock.
Wall Street Analysts Forecast Growth
EQX has been the topic of several recent analyst reports. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.00.
Equinox Gold Stock Performance
EQX stock opened at $13.54 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.68 billion, a PE ratio of 16.93 and a beta of 1.18. The business has a 50 day moving average of $13.82 and a 200-day moving average of $14.50. Equinox Gold Corp. has a 12-month low of $5.61 and a 12-month high of $18.96.
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, sell-side analysts expect that Equinox Gold Corp. will post 1.27 earnings per share for the current year.
Equinox Gold Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Thursday, May 21st will be given a dividend of $0.015 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 0.4%. Equinox Gold’s dividend payout ratio is presently 11.11%.
Equinox Gold Company Profile
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.
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