Van ECK Associates Corp Reduces Stock Position in Equinox Gold Corp. $EQX

Van ECK Associates Corp cut its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,327,040 shares of the company’s stock after selling 11,697,008 shares during the period. Equinox Gold makes up approximately 1.0% of Van ECK Associates Corp’s holdings, making the stock its 25th largest holding. Van ECK Associates Corp owned about 10.73% of Equinox Gold worth $1,183,958,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new position in Equinox Gold in the fourth quarter valued at about $28,000. Aventura Private Wealth LLC purchased a new position in Equinox Gold in the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in Equinox Gold in the fourth quarter valued at about $37,000. Banque Cantonale Vaudoise purchased a new position in Equinox Gold in the fourth quarter valued at about $39,000. Finally, WealthCollab LLC increased its holdings in Equinox Gold by 352.8% in the fourth quarter. WealthCollab LLC now owns 3,337 shares of the company’s stock valued at $47,000 after buying an additional 2,600 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

EQX opened at $10.54 on Friday. The company has a 50-day moving average of $13.43 and a 200-day moving average of $14.37. The company has a market capitalization of $8.32 billion, a P/E ratio of 13.18 and a beta of 1.18. Equinox Gold Corp. has a 1-year low of $5.61 and a 1-year high of $18.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The business had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. During the same period in the prior year, the company earned ($0.08) EPS. Equinox Gold’s quarterly revenue was up 224.3% on a year-over-year basis. Equities analysts expect that Equinox Gold Corp. will post 1.27 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s dividend payout ratio is currently 11.11%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EQX. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada dropped their target price on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $14.00.

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.