Euro Pacific Asset Management LLC Buys 1,676,488 Shares of Equinox Gold Corp. $EQX

Key Points

• Euro Pacific Asset Management increased its Equinox Gold stake by 66.9% in the third quarter, buying 1.68 million shares to own 4.18 million shares worth approximately $46.5 million.
• Other institutions also expanded or initiated positions, and institutional investors now own 38.85% of Equinox Gold. Analysts maintain a broadly positive outlook, with an average “Buy” rating and a $14 price target.
• Equinox Gold shares recently fell 3.1% to $10.85, while quarterly revenue rose 60.8% year over year despite a slight EPS miss. The company also increased its quarterly dividend to $0.0225 per share.

Euro Pacific Asset Management LLC grew its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 66.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,181,021 shares of the company's stock after purchasing an additional 1,676,488 shares during the period. Equinox Gold makes up 3.0% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 10th biggest holding. Euro Pacific Asset Management LLC owned about 0.36% of Equinox Gold worth $46,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQX. Amundi increased its position in Equinox Gold by 25.2% in the 2nd quarter. Amundi now owns 5,307,103 shares of the company's stock valued at $51,585,000 after buying an additional 1,067,139 shares in the last quarter. Bard Associates Inc. bought a new position in Equinox Gold in the second quarter worth approximately $3,763,000. Van ECK Associates Corp boosted its holdings in Equinox Gold by 2.8% in the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company's stock worth $849,875,000 after acquiring an additional 2,355,044 shares in the last quarter. BlackRock Inc. bought a new position in Equinox Gold in the second quarter worth approximately $6,158,000. Finally, Invst LLC bought a new position in Equinox Gold in the second quarter worth approximately $1,986,000. Institutional investors own 38.85% of the company's stock.

Analyst Upgrades and Downgrades

EQX has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada upped their target price on Equinox Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Zacks Research cut Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. TD Securities reissued a "buy" rating on shares of Equinox Gold in a research report on Thursday, September 17th. Finally, Scotiabank reissued an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $14.00.

Equinox Gold Stock Down 3.1%

NYSEAMERICAN EQX traded down $0.35 during trading hours on Tuesday, hitting $10.85. The company's stock had a trading volume of 12,370,154 shares, compared to its average volume of 11,769,253. The company has a market capitalization of $12.67 billion, a PE ratio of 10.85 and a beta of 1.32. 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 52 week low of $8.48 and a 52 week high of $18.96. The company's 50-day simple moving average is $12.03 and its two-hundred day simple moving average is $11.95.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. The business's revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Research analysts anticipate that Equinox Gold Corp. will post 1.10 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This is a positive change from Equinox Gold's previous quarterly dividend of $0.0150. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. Equinox Gold's payout ratio is presently 16.67%.

Equinox Gold Profile

Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.

Equinox Gold's portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.

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