Cibc World Market Inc. Makes New Investment in Equinox Gold Corp. $EQX

Cibc World Market Inc. bought a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 686,245 shares of the company’s stock, valued at approximately $6,670,000. Cibc World Market Inc. owned approximately 0.06% of Equinox Gold at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Equinox Gold by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock valued at $431,665,000 after purchasing an additional 3,250,135 shares during the period. PKO Investment Management Joint Stock Co boosted its holdings in Equinox Gold by 41.3% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 342,387 shares of the company’s stock worth $4,821,000 after buying an additional 100,000 shares during the period. Bard Associates Inc. purchased a new stake in Equinox Gold in the 2nd quarter worth $3,763,000. Euro Pacific Asset Management LLC increased its stake in Equinox Gold by 20.2% in the 1st quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock worth $32,596,000 after buying an additional 385,638 shares in the last quarter. Finally, Amundi raised its holdings in Equinox Gold by 14.1% during the first quarter. Amundi now owns 4,239,964 shares of the company’s stock valued at $61,310,000 after acquiring an additional 523,741 shares during the period. Institutional investors own 38.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EQX. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Royal Bank Of Canada cut their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $13.00.

Equinox Gold Trading Up 1.6%

EQX stock opened at $13.98 on Wednesday. The firm has a fifty day moving average price of $10.31 and a 200 day moving average price of $12.86. Equinox Gold Corp. has a fifty-two week low of $8.07 and a fifty-two week high of $18.96. The firm has a market cap of $16.32 billion, a PE ratio of 13.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33.

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

Equinox Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.6%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.

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.