BlackRock Inc. Makes New Investment in Equinox Gold Corp. $EQX

Key Points

• BlackRock acquired 633,590 shares of Equinox Gold in the second quarter, worth approximately $6.16 million and representing a 0.08% stake. Institutional investors and hedge funds collectively own 38.85% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $13.00 price target, although Zacks Research downgraded the stock to “Hold.”
• Equinox Gold reported quarterly revenue of $769.8 million, up 60.8% year over year, but narrowly missed EPS estimates. The company also increased its quarterly dividend to $0.0225 per share, equating to a 0.7% annual yield.

BlackRock Inc. acquired a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 633,590 shares of the company's stock, valued at approximately $6,158,000. BlackRock Inc. owned 0.08% of Equinox Gold at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new position in Equinox Gold in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company's stock worth $29,000 after acquiring an additional 982 shares during the period. Quarry LP grew its stake in Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company's stock valued at $38,000 after purchasing an additional 2,098 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Equinox Gold during the 4th quarter valued at about $39,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of Equinox Gold in the fourth quarter valued at about $42,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Equinox Gold in a research report on Thursday, July 16th. Scotiabank reiterated an "outperform" rating on shares of Equinox Gold in a report on Friday, August 7th. Royal Bank Of Canada reduced their price target on shares of Equinox Gold from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Zacks Research cut shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. One 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 MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $13.00.

Equinox Gold Stock Down 2.4%

Shares of EQX stock opened at $12.81 on Friday. The stock has a 50 day moving average of $10.77 and a 200 day moving average of $12.75. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The stock has a market cap of $14.96 billion, a P/E ratio of 12.81 and a beta of 1.32. Equinox Gold Corp. has a twelve month low of $8.48 and a twelve month high of $18.96.

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 (EPS) 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 company had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The company's revenue was up 60.8% compared to the same quarter last year. As a group, sell-side analysts expect that Equinox Gold Corp. will post 1.1 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 given a dividend of $0.0225 per share. This is a boost from Equinox Gold's previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, August 19th. Equinox Gold's dividend payout ratio (DPR) is 16.67%.

About Equinox Gold

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.