Danica Pension Livsforsikringsaktieselskab Takes Position in Equinox Gold Corp. $EQX

Key Points

• Danica Pension acquired 224,186 Equinox Gold shares in the second quarter, worth approximately $3.1 million. Institutional investors collectively own 38.85% of the company.
• Equinox Gold reported quarterly revenue of $769.8 million, up 60.8% year over year, though earnings of $0.16 per share fell slightly short of analyst expectations.
• The company increased its quarterly dividend to $0.0225 per share, while analysts maintain an overall “Buy” rating with an average price target of $13.00.

Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 224,186 shares of the company's stock, valued at approximately $3,098,000.

A number of other large investors have also recently made changes to their positions in the company. FIL Ltd acquired a new stake in Equinox Gold in the fourth quarter valued at approximately $332,888,000. Norges Bank acquired a new position in Equinox Gold during the 4th quarter worth approximately $141,388,000. Deutsche Bank AG acquired a new position in Equinox Gold during the 2nd quarter worth approximately $82,981,000. Boston Partners purchased a new stake in shares of Equinox Gold in the 4th quarter valued at approximately $75,290,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Equinox Gold in the 4th quarter valued at approximately $55,875,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Stock Down 2.9%

EQX stock opened at $11.45 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. Equinox Gold Corp. has a twelve month low of $7.54 and a twelve month high of $18.96. The company's 50 day moving average is $10.04 and its two-hundred day moving average is $12.92. The stock has a market cap of $13.37 billion, a P/E ratio of 11.45 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The company's quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS. Research analysts expect that Equinox Gold Corp. will post 1.12 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.0225 dividend. 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 0.8%. The ex-dividend date is Wednesday, August 19th. Equinox Gold's payout ratio is currently 11.11%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. Zacks Research lowered Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Equinox Gold in a report on Thursday, July 16th. The Goldman Sachs Group upgraded Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $13.00.

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.

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