Man Group plc Buys Shares of 3,238,882 Equinox Gold Corp. $EQX

Man Group plc purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,238,882 shares of the company’s stock, valued at approximately $31,528,000. Man Group plc owned approximately 0.28% of Equinox Gold as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of Equinox Gold during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares in the last quarter. Quarry LP raised its stake in Equinox Gold by 329.9% in the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after purchasing an additional 2,098 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Equinox Gold in the 4th quarter valued at about $39,000. Finally, Purpose Unlimited Inc. purchased a new position in Equinox Gold in the 4th quarter valued at about $42,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $13.63 on Thursday. The business’s 50-day moving average price is $10.36 and its 200 day moving average price is $12.86. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. Equinox Gold Corp. has a twelve month low of $8.07 and a twelve month high of $18.96. The company has a market capitalization of $15.91 billion, a PE ratio of 13.63 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $769.80 million during the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. On average, research analysts predict that Equinox Gold Corp. will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.0225 dividend. The ex-dividend date 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 yield of 0.7%. Equinox Gold’s payout ratio is presently 16.67%.

Analyst Ratings Changes

EQX has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada reduced their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $13.00.

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.