Bard Associates Inc. Makes New Investment in Equinox Gold Corp. $EQX

Key Points

• Bard Associates initiated a position in Equinox Gold during the second quarter, purchasing 387,156 shares valued at approximately $3.76 million. Institutional investors and hedge funds collectively own 38.85% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, six Buy, and one Hold rating. The stock has an average rating of Buy and a consensus price target of $13.00.
• Equinox Gold reported quarterly revenue growth of 60.8% year over year to $769.8 million, though EPS of $0.16 slightly missed estimates. The company also increased its quarterly dividend to $0.0225 per share, implying a 0.7% annualized yield.

Bard Associates Inc. bought a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 387,156 shares of the company's stock, valued at approximately $3,763,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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. FIL Ltd bought a new stake in Equinox Gold during the 4th quarter valued at $332,888,000. Maple Rock Capital Partners Inc. boosted 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 worth $284,152,000 after acquiring an additional 3,589,200 shares during the period. L1 Capital Pty Ltd boosted its position 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 acquiring an additional 2,768,141 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 38.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts 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. Royal Bank Of Canada decreased 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. Zacks Research lowered shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Thursday, July 16th. Finally, Scotiabank reissued an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.00.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $13.53 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $15.80 billion, a PE ratio of 13.53 and a beta of 1.27. Equinox Gold Corp. has a 12-month low of $7.77 and a 12-month high of $18.96. The company has a 50 day moving average price of $10.21 and a two-hundred day moving average price of $12.89.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 10.91% and a net margin of 26.30%.The company had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. During the same period in the prior year, the firm earned $0.11 EPS. Equinox Gold's quarterly revenue was up 60.8% on a year-over-year basis. As a group, equities analysts predict that Equinox Gold Corp. will post 1.12 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, August 19th. This is a boost from Equinox Gold's previous quarterly dividend of $0.01. Equinox Gold's dividend payout ratio (DPR) is 16.67%.

Equinox Gold Company 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.

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