Invst LLC Acquires New Position in Equinox Gold Corp. $EQX

Invst LLC bought a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, Holdings Channel reports. The institutional investor bought 204,279 shares of the company’s stock, valued at approximately $1,986,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FIL Ltd bought a new position in shares of Equinox Gold during the 4th quarter valued at $332,888,000. Norges Bank bought a new stake in Equinox Gold in the fourth quarter worth $141,388,000. Deutsche Bank AG bought a new stake in Equinox Gold in the second quarter worth $82,981,000. Boston Partners purchased a new stake in Equinox Gold during the fourth quarter valued at about $75,290,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Equinox Gold during the second quarter valued at about $40,220,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Wall Street Analysts Forecast Growth

EQX has been the topic of several analyst reports. Royal Bank Of Canada decreased their price objective on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Equinox Gold presently has an average rating of “Buy” and an average target price of $13.00.

Equinox Gold Stock Up 1.6%

NYSEAMERICAN EQX opened at $13.98 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. The stock has a market capitalization of $16.32 billion, a PE ratio of 13.98 and a beta of 1.27. Equinox Gold Corp. has a 1 year low of $8.07 and a 1 year high of $18.96. The business’s 50-day moving average is $10.31 and its 200 day moving average is $12.86.

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

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 0.6%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, August 19th. Equinox Gold’s payout ratio is presently 16.67%.

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.