177,945 Equinox Gold Corp. $EQX Shares Acquired by Global Strategic Management Inc.

Key Points

• Global Strategic Management more than doubled its Equinox Gold position in the third quarter, adding 177,945 shares to own 345,308 shares valued at approximately $3.84 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 38.85% of EQX; several major firms also increased their positions or initiated stakes.
• Analysts maintain a generally positive view, with an average “Buy” rating and a $14 price target, while Equinox reported 60.8% year-over-year revenue growth and raised its quarterly dividend to $0.0225 per share.

Global Strategic Management Inc. grew its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 106.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,308 shares of the company's stock after purchasing an additional 177,945 shares during the period. Equinox Gold makes up approximately 2.6% of Global Strategic Management Inc.'s investment portfolio, making the stock its 12th biggest position. Global Strategic Management Inc.'s holdings in Equinox Gold were worth $3,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Equinox Gold by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company's stock valued at $849,875,000 after buying an additional 2,355,044 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Equinox Gold during the 2nd quarter valued at approximately $82,981,000. Amundi grew its holdings in shares of Equinox Gold by 25.2% in the second quarter. Amundi now owns 5,307,103 shares of the company's stock valued at $51,585,000 after purchasing an additional 1,067,139 shares in the last quarter. Euro Pacific Asset Management LLC grew its holdings in shares of Equinox Gold by 66.9% in the third quarter. Euro Pacific Asset Management LLC now owns 4,181,021 shares of the company's stock valued at $46,451,000 after purchasing an additional 1,676,488 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Equinox Gold in the second quarter worth $40,220,000. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Up 8.0%

Shares of EQX opened at $11.11 on Friday. The company has a market cap of $12.97 billion, a PE ratio of 11.11 and a beta of 1.32. The business has a fifty day moving average of $12.03 and a 200 day moving average of $11.93. Equinox Gold Corp. has a 52-week low of $8.48 and a 52-week high of $18.96. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm 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 firm earned $0.11 EPS. The company's revenue was up 60.8% on a year-over-year basis. On average, sell-side analysts expect that Equinox Gold Corp. will post 1.09 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, August 19th. This is a positive change from Equinox Gold's previous quarterly dividend of $0.0150. Equinox Gold's payout ratio is currently 16.67%.

Analysts Set New Price Targets

Several research firms have commented on EQX. Royal Bank Of Canada increased their price objective on shares of Equinox Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. TD Securities reissued a "buy" rating on shares of Equinox Gold in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Equinox Gold in a report on Thursday, July 16th. Zacks Research cut shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Scotiabank restated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $14.00.

Equinox Gold Profile

Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.

Equinox Gold's portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.

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