Equinox Gold Corp. $EQX Stake Lowered by Goehring & Rozencwajg Associates LLC

Key Points

• Goehring & Rozencwajg Associates LLC cut its Equinox Gold stake by 12.4% in the first quarter, selling 181,508 shares and leaving it with 1.28 million shares valued at about $18.5 million.
• Equinox Gold reported quarterly EPS of $0.28, slightly below estimates, while revenue came in at $861.6 million versus the expected $896.9 million; revenue still jumped 224.3% year over year.
• Analysts remain constructive on the stock, with a consensus rating of Buy and an average target price of $13.00, even after RBC lowered its target to $13 from $14.

Goehring & Rozencwajg Associates LLC trimmed its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 12.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,283,253 shares of the company's stock after selling 181,508 shares during the quarter. Equinox Gold comprises 1.0% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 29th largest position. Goehring & Rozencwajg Associates LLC owned approximately 0.16% of Equinox Gold worth $18,526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its position in Equinox Gold by 232.7% in the first quarter. Royal Bank of Canada now owns 558,605 shares of the company's stock worth $3,843,000 after buying an additional 390,690 shares during the period. Millennium Management LLC bought a new stake in Equinox Gold in the first quarter valued at $6,883,000. Goldman Sachs Group Inc. boosted its holdings in shares of Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company's stock valued at $12,812,000 after acquiring an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Equinox Gold by 164.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company's stock valued at $5,367,000 after acquiring an additional 485,567 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Equinox Gold by 77.5% during the second quarter. Geode Capital Management LLC now owns 356,122 shares of the company's stock worth $2,067,000 after acquiring an additional 155,460 shares during the last quarter. Institutional investors own 38.85% of the company's stock.

Equinox Gold Price Performance

Shares of EQX opened at $9.35 on Thursday. The firm has a market capitalization 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 quick ratio of 0.75 and a current ratio of 1.24. Equinox Gold Corp. has a one year low of $6.01 and a one year high of $18.96. The stock's fifty day moving average is $11.31 and its 200-day moving average is $13.73.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $861.59 million during 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 business's revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. Equities analysts anticipate that Equinox Gold Corp. will post 1.24 EPS for the current year.

Equinox Gold Dividend Announcement

The business also recently disclosed 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 was Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Equinox Gold's dividend payout ratio (DPR) is 11.11%.

Analyst Ratings Changes

A number of analysts recently weighed in on EQX shares. Zacks Research raised shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, June 22nd. Royal Bank Of Canada reduced 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. Finally, The Goldman Sachs Group upgraded shares of Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, Equinox Gold presently has a consensus rating of "Buy" and a consensus target price of $13.00.

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.

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