Equinox Gold Corp. $EQX Shares Sold by Aegis Financial Corp

Key Points

• Aegis Financial Corp cut its stake in Equinox Gold by 13.3% in the first quarter, selling 593,125 shares and leaving it with 3.88 million shares worth about $55.9 million.
• Despite the sale, Equinox Gold remains a significant holding for Aegis, representing 9.5% of its portfolio and its second-largest position. Institutional investors overall still own 38.85% of the company.
• Analyst sentiment remains positive: Equinox Gold has an average Buy rating and a consensus price target of $13.00, though RBC recently trimmed its target from $14 to $13. The stock last traded at $9.35, below both its 50-day and 200-day moving averages.

Aegis Financial Corp reduced its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,880,964 shares of the company's stock after selling 593,125 shares during the period. Equinox Gold accounts for 9.5% of Aegis Financial Corp's holdings, making the stock its 2nd biggest holding. Aegis Financial Corp owned 0.49% of Equinox Gold worth $55,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EQX. FIL Ltd acquired a new position in Equinox Gold during the 4th quarter worth approximately $332,888,000. Norges Bank acquired a new stake in Equinox Gold in the fourth quarter valued at approximately $141,388,000. Boston Partners acquired a new stake in Equinox Gold in the fourth quarter valued at approximately $75,290,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Equinox Gold during the fourth quarter valued at approximately $55,875,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Equinox Gold by 163.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,946,309 shares of the company's stock valued at $83,576,000 after acquiring an additional 3,688,805 shares in the last quarter. Institutional investors and hedge funds own 38.85% of the company's stock.

Analyst Ratings Changes

EQX has been the topic of a number of research reports. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Thursday, July 16th. Royal Bank Of Canada decreased 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 note on Thursday, July 9th. Zacks Research upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, June 22nd. Finally, The Goldman Sachs Group raised shares of Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, Equinox Gold currently has an average rating of "Buy" and a consensus price target of $13.00.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $9.35 on Thursday. The company has a fifty day moving average price of $10.74 and a 200-day moving average price of $13.54. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 11.69 and a beta of 1.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 0.75. 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 released its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). The firm had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The firm's revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. As a group, equities research analysts predict that Equinox Gold Corp. will post 1.12 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Equinox Gold's dividend payout ratio is currently 11.11%.

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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