Legal & General Group Plc bought a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,046,883 shares of the company’s stock, valued at approximately $39,385,000.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Equinox Gold by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after purchasing an additional 3,250,135 shares in the last quarter. FIL Ltd bought a new position in shares of Equinox Gold during the 4th quarter worth approximately $332,888,000. Maple Rock Capital Partners Inc. boosted its stake in shares of Equinox Gold by 21.6% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock worth $284,152,000 after buying an additional 3,589,200 shares during the last quarter. L1 Capital Pty Ltd boosted its stake in shares of Equinox Gold by 15.9% in the 4th quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock worth $283,110,000 after buying an additional 2,768,141 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Equinox Gold by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock valued at $174,928,000 after acquiring an additional 603,803 shares in the last quarter. 38.85% of the stock is owned by institutional investors.
Equinox Gold Trading Down 3.4%
NYSEAMERICAN:EQX opened at $12.99 on Friday. The company has a market cap of $15.17 billion, a P/E ratio of 12.99 and a beta of 1.27. Equinox Gold Corp. has a 1 year low of $8.24 and a 1 year high of $18.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. The stock’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $12.86.
Equinox Gold Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.0225 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. Equinox Gold’s payout ratio is currently 16.67%.
Analysts Set New Price Targets
Several research firms have weighed in on EQX. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.00.
View Our Latest Stock Report on EQX
Equinox Gold 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.
Read More
- Five stocks we like better than Equinox Gold
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
Want to see what other hedge funds are holding EQX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinox Gold Corp. (NYSEAMERICAN:EQX – Free Report).
Receive News & Ratings for Equinox Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinox Gold and related companies with MarketBeat.com's FREE daily email newsletter.
