Dimensional Fund Advisors LP Sells 948,807 Shares of Equinox Gold Corp. $EQX

Key Points

• Dimensional Fund Advisors reduced its Equinox Gold stake by 13.9%, selling 948,807 shares and retaining 5.86 million shares worth approximately $84.8 million, or 0.74% of the company.
• Institutional ownership remains significant at 38.85%, with Vanguard, Maple Rock Capital, L1 Capital and Franklin Resources among investors that increased their positions.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $13.00, despite Equinox Gold slightly missing quarterly EPS and revenue estimates.

Dimensional Fund Advisors LP reduced its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,864,818 shares of the company's stock after selling 948,807 shares during the period. Dimensional Fund Advisors LP owned 0.74% of Equinox Gold worth $84,770,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Equinox Gold by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company's stock valued at $431,665,000 after acquiring an additional 3,250,135 shares during the last quarter. FIL Ltd acquired a new stake in Equinox Gold in the fourth quarter valued at $332,888,000. Maple Rock Capital Partners Inc. grew its holdings in Equinox Gold by 21.6% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company's stock worth $284,152,000 after purchasing an additional 3,589,200 shares during the period. L1 Capital Pty Ltd raised its stake in Equinox Gold by 15.9% in the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company's stock valued at $283,110,000 after buying an additional 2,768,141 shares during the period. Finally, Franklin Resources Inc. raised its stake in Equinox Gold by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company's stock valued at $174,928,000 after buying an additional 603,803 shares during the period. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Equinox Gold Stock Up 5.0%

NYSEAMERICAN EQX opened at $9.41 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 11.76 and a beta of 1.26. The company has a 50 day moving average of $10.31 and a 200-day moving average of $13.33. Equinox Gold Corp. has a 1-year low of $6.01 and a 1-year high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). The company had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The company's quarterly 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) EPS. On average, equities research analysts expect that Equinox Gold Corp. will post 1.12 earnings per share for the current fiscal year.

Equinox Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold's dividend payout ratio is 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.

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