Amundi Boosts Holdings in Equinox Gold Corp. $EQX

Key Points

• Amundi increased its Equinox Gold position by 25.2% in the second quarter, adding 1.07 million shares for a total holding of 5.31 million shares valued at approximately $51.6 million.
• Equinox Gold reported quarterly revenue of $769.8 million, up 60.8% year over year, but narrowly missed analysts’ earnings and revenue estimates. The company also raised its quarterly dividend to $0.0225 per share, implying a 0.7% yield.
• Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and a $13.00 price target versus its reported opening price of $12.20; institutional investors own 38.85% of the shares.

Amundi boosted its position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 25.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,307,103 shares of the company's stock after buying an additional 1,067,139 shares during the quarter. Amundi owned 0.45% of Equinox Gold worth $51,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake 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 acquiring an additional 2,355,044 shares during the last quarter. FIL Ltd acquired a new position in shares of Equinox Gold in the 4th quarter worth approximately $332,888,000. Maple Rock Capital Partners Inc. increased its holdings in shares of Equinox Gold by 21.6% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company's stock valued at $284,152,000 after acquiring an additional 3,589,200 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in Equinox Gold by 15.9% during the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company's stock worth $283,110,000 after purchasing an additional 2,768,141 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Equinox Gold by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company's stock worth $174,928,000 after purchasing an additional 603,803 shares during the period. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $12.20 on Friday. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 12.20 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. Equinox Gold Corp. has a 12 month low of $8.48 and a 12 month high of $18.96. The stock's 50 day moving average price is $10.99 and its 200 day moving average price is $12.63.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The firm had revenue of $769.80 million during the quarter, compared to the consensus estimate of $775.79 million. During the same period in the prior year, the firm posted $0.11 EPS. The firm's quarterly revenue was up 60.8% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.0225 per share. This is a positive change from Equinox Gold's previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Equinox Gold's dividend payout ratio (DPR) is currently 16.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EQX shares. The Goldman Sachs Group upgraded shares of Equinox Gold from a "buy" rating to a "buy" rating in a research report on Monday, June 8th. Zacks Research cut shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Royal Bank Of Canada decreased their target price on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Equinox Gold in a research report on Thursday, July 16th. 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, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Equinox Gold presently has an average rating of "Buy" and a consensus price target of $13.00.

Equinox Gold Profile

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold's assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.

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