Amundi Has $61.31 Million Stake in Equinox Gold Corp. $EQX

Key Points

• Amundi increased its Equinox Gold stake by 14.1% in the first quarter, bringing its holdings to 4.24 million shares valued at approximately $61.3 million, or 0.54% of the company.
• Institutional ownership remains significant at 38.85%, with Vanguard, FIL, Maple Rock Capital, L1 Capital and Franklin Resources among the company’s major institutional investors.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $13.00 price target. Equinox Gold reported $861.6 million in quarterly revenue, up 224.3% year over year, but narrowly missed earnings and revenue estimates.

Amundi raised its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,239,964 shares of the company's stock after purchasing an additional 523,741 shares during the period. Amundi owned 0.54% of Equinox Gold worth $61,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EQX. Vanguard Group Inc. raised its position in shares of Equinox Gold by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company's stock worth $431,665,000 after acquiring an additional 3,250,135 shares during the last quarter. FIL Ltd acquired a new stake in Equinox Gold during the 4th quarter valued at approximately $332,888,000. Maple Rock Capital Partners Inc. increased its position in Equinox Gold by 21.6% during 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 purchasing an additional 3,589,200 shares during the period. L1 Capital Pty Ltd raised its holdings in Equinox Gold by 15.9% during the 4th 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. raised its holdings in Equinox Gold by 5.1% during the 4th 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 last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $8.95 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. Equinox Gold Corp. has a twelve month low of $6.01 and a twelve month high of $18.96. The company has a fifty day moving average of $10.24 and a 200-day moving average of $13.29. The firm has a market capitalization of $7.06 billion, a P/E ratio of 11.19 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm's revenue was up 224.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. As a group, sell-side analysts anticipate that Equinox Gold Corp. will post 1.12 EPS for the current year.

Equinox Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source