Equinox Gold Corp. $EQX Stock Holdings Raised by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Equinox Gold stake by 20.2% in the first quarter, buying 385,638 more shares and bringing its total to 2,292,608 shares worth about $32.6 million.
• Equinox Gold reported Q1 earnings of $0.28 per share, missing analyst expectations by $0.01, while revenue of $861.59 million also came in below forecasts. Even so, revenue jumped 224.3% from a year earlier.
• Analysts remain broadly positive on the stock, with an average rating of “Buy” and a consensus price target of $13.00, above the recent opening price of $8.62.

Euro Pacific Asset Management LLC grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 20.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,292,608 shares of the company's stock after purchasing an additional 385,638 shares during the quarter. Equinox Gold makes up approximately 3.1% of Euro Pacific Asset Management LLC's holdings, making the stock its 13th biggest holding. Euro Pacific Asset Management LLC owned about 0.29% of Equinox Gold worth $32,596,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQX. Vanguard Group Inc. increased its holdings in 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 buying an additional 3,250,135 shares during the last quarter. FIL Ltd acquired a new stake in Equinox Gold during the fourth quarter valued at approximately $332,888,000. Maple Rock Capital Partners Inc. lifted its holdings in Equinox Gold by 21.6% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company's stock worth $284,152,000 after buying an additional 3,589,200 shares during the last quarter. L1 Capital Pty Ltd lifted its holdings in Equinox Gold by 15.9% during the 4th quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company's stock worth $283,110,000 after buying an additional 2,768,141 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Equinox Gold by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company's stock worth $174,928,000 after acquiring an additional 603,803 shares in the last quarter. Institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Performance

Shares of EQX stock opened at $8.62 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $11.09 and a two-hundred day moving average of $13.65. Equinox Gold Corp. has a 52 week low of $6.01 and a 52 week high of $18.96. The company has a market cap of $6.80 billion, a P/E ratio of 10.77 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced 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 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 firm's revenue for the quarter was up 224.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. As a group, 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. Investors of record on Thursday, May 21st were paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Equinox Gold's dividend payout ratio is presently 11.11%.

Analyst Ratings Changes

EQX has been the topic of several research reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Equinox Gold in a research report on Thursday. Royal Bank Of Canada decreased their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. The Goldman Sachs Group raised shares of Equinox Gold from a "buy" rating to a "buy" rating in a report on Monday, June 8th. Finally, Zacks Research raised shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, June 22nd. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, Equinox Gold has an average rating of "Buy" and an average price target 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.