Equinox Gold Corp. $EQX Shares Acquired by L1 Capital Pty Ltd

L1 Capital Pty Ltd grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,164,556 shares of the company’s stock after buying an additional 2,768,141 shares during the period. Equinox Gold accounts for 14.8% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 3rd largest holding. L1 Capital Pty Ltd’s holdings in Equinox Gold were worth $283,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EQX. Gamco Investors INC. ET AL boosted its stake in Equinox Gold by 0.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock worth $2,680,000 after purchasing an additional 795 shares during the period. HighTower Advisors LLC boosted its stake in Equinox Gold by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,067 shares of the company’s stock worth $183,000 after purchasing an additional 1,003 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Equinox Gold during the 4th quarter worth $28,000. Aventura Private Wealth LLC acquired a new stake in Equinox Gold during the 4th quarter worth $28,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Equinox Gold by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 233,610 shares of the company’s stock worth $2,625,000 after purchasing an additional 2,313 shares during the period. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $10.54 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $13.43 and its 200 day moving average price is $14.37. Equinox Gold Corp. has a 52 week low of $5.61 and a 52 week high of $18.96. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 13.18 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $896.94 million. During the same quarter last year, the business posted ($0.08) earnings per share. The business’s revenue was up 224.3% compared to the same quarter last year. As a group, research analysts forecast that Equinox Gold Corp. will post 1.27 earnings per share for the current fiscal year.

Equinox Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s dividend payout ratio (DPR) is 11.11%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQX. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday. Royal Bank Of Canada decreased their price target on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Two research analysts have 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.com, the company has a consensus rating of “Buy” and an average target price of $14.00.

About Equinox Gold

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.