Caisse de depot et placement du Quebec acquired a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 785,519 shares of the company's stock, valued at approximately $7,652,000. Caisse de depot et placement du Quebec owned about 0.07% of Equinox Gold as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in EQX. Man Group plc bought a new stake in shares of Equinox Gold in the 2nd quarter worth about $31,528,000. Invst LLC bought a new position in shares of Equinox Gold in the 2nd quarter valued at about $1,986,000. Jupiter Topco LLC purchased a new position in Equinox Gold in the second quarter worth about $6,450,000. Legal & General Group Plc purchased a new position in Equinox Gold in the second quarter worth about $39,385,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Equinox Gold during the second quarter worth approximately $40,220,000. 38.85% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
EQX has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Equinox Gold from a "buy" rating to a "buy" rating in a research report on Monday, June 8th. Zacks Research lowered Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Royal Bank Of Canada lowered their price target on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Equinox Gold in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $13.00.
Read Our Latest Stock Report on Equinox Gold
Equinox Gold Stock Down 3.4%
Shares of NYSEAMERICAN EQX opened at $12.99 on Friday. Equinox Gold Corp. has a 1 year low of $8.24 and a 1 year high of $18.96. The firm has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $12.86. The company has a market cap of $15.17 billion, a P/E ratio of 12.99 and a beta of 1.27. 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 (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results 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 net margin of 26.30% and a return on equity of 10.91%. The business had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. During the same period in the prior year, the company posted $0.11 EPS. The company's quarterly revenue was up 60.8% compared to the same quarter last year. Research analysts anticipate that Equinox Gold Corp. will post 1.1 earnings per share for the current year.
Equinox Gold Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a $0.0225 dividend. This is a boost from Equinox Gold's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.09 annualized dividend and a yield of 0.7%. Equinox Gold's dividend payout ratio is currently 16.67%.
Equinox Gold Company Profile
(
Free Report)
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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