Parvin Asset Management LLC Makes New $1.13 Million Investment in Equinox Gold Corp. $EQX

Parvin Asset Management LLC purchased a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 116,441 shares of the company’s stock, valued at approximately $1,132,000.

Other hedge funds have also bought and sold shares of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock valued at $29,000 after acquiring an additional 982 shares during the last quarter. Quarry LP boosted its holdings in shares of Equinox Gold by 329.9% in the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after purchasing an additional 2,098 shares during the period. Banque Cantonale Vaudoise bought a new position in Equinox Gold during the 4th quarter valued at about $39,000. Finally, Purpose Unlimited Inc. bought a new stake in shares of Equinox Gold during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Price Performance

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

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%. Equinox Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. On average, sell-side analysts forecast that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders 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 boost 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 dividend payout ratio is presently 16.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQX. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada dropped 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. Finally, Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold presently has an average rating of “Buy” and a consensus target price of $13.00.

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.