Global Strategic Management Inc. raised its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX – Free Report) by 106.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 345,308 shares of the company’s stock after acquiring an additional 177,945 shares during the quarter. Equinox Gold makes up 2.6% of Global Strategic Management Inc.’s holdings, making the stock its 12th largest holding. Global Strategic Management Inc.’s holdings in Equinox Gold were worth $3,836,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of EQX. Van ECK Associates Corp lifted its position in shares of Equinox Gold by 2.8% during the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock worth $849,875,000 after purchasing an additional 2,355,044 shares during the last quarter. Deutsche Bank AG bought a new stake in Equinox Gold during the 2nd quarter valued at about $82,981,000. Amundi lifted its holdings in Equinox Gold by 25.2% during the 2nd quarter. Amundi now owns 5,307,103 shares of the company’s stock valued at $51,585,000 after buying an additional 1,067,139 shares in the last quarter. Euro Pacific Asset Management LLC boosted its position in Equinox Gold by 66.9% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,181,021 shares of the company’s stock valued at $46,451,000 after buying an additional 1,676,488 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in Equinox Gold in the 2nd quarter valued at about $40,220,000. Institutional investors own 38.85% of the company’s stock.
Equinox Gold Trading Up 8.0%
NYSEAMERICAN EQX opened at $11.11 on Friday. The company’s 50-day simple moving average is $12.03 and its two-hundred day simple moving average is $11.93. Equinox Gold Corp. has a one year low of $8.48 and a one year high of $18.96. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 11.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33.
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. The company had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. During the same quarter in the prior year, the company earned $0.11 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. Equities analysts forecast that Equinox Gold Corp. will post 1.09 EPS for the current fiscal year.
Equinox Gold Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. Equinox Gold’s dividend payout ratio is 16.67%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on EQX. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada boosted their price target on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.00.
Get Our Latest Stock Report on Equinox Gold
Equinox Gold Profile
Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.
Equinox Gold’s portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.
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