Renaissance Technologies LLC Acquires New Holdings in Equinox Gold Corp. $EQX

Renaissance Technologies LLC bought a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 910,769 shares of the company’s stock, valued at approximately $13,170,000. Renaissance Technologies LLC owned about 0.12% of Equinox Gold at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capula Management Ltd increased its position in shares of Equinox Gold by 100.0% during the first quarter. Capula Management Ltd now owns 70,000 shares of the company’s stock valued at $1,012,000 after acquiring an additional 35,000 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Equinox Gold in the 1st quarter worth approximately $490,000. Amova Asset Management Americas Inc. lifted its holdings in shares of Equinox Gold by 31.8% in the 1st quarter. Amova Asset Management Americas Inc. now owns 147,967 shares of the company’s stock worth $2,138,000 after acquiring an additional 35,693 shares during the last quarter. Swiss National Bank boosted its position in shares of Equinox Gold by 1.1% during the 1st quarter. Swiss National Bank now owns 1,489,002 shares of the company’s stock worth $21,472,000 after purchasing an additional 15,900 shares during the period. Finally, Euro Pacific Asset Management LLC boosted its position in shares of Equinox Gold by 20.2% during the 1st quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock worth $32,596,000 after purchasing an additional 385,638 shares during the period. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EQX. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada lowered their price target on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.00.

Equinox Gold Stock Down 4.9%

Shares of NYSEAMERICAN EQX opened at $8.95 on Friday. The stock has a market cap of $7.06 billion, a P/E ratio of 11.19 and a beta of 1.26. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. Equinox Gold Corp. has a 12-month low of $6.01 and a 12-month high of $18.96. The business’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $13.30.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) 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 company had revenue of $861.59 million during 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 company’s revenue for the quarter was up 224.3% on a year-over-year basis. As a group, equities analysts predict that Equinox Gold Corp. will post 1.12 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 21st were given a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a yield of 0.7%. Equinox Gold’s dividend payout ratio (DPR) is currently 11.11%.

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.