Gabelli Funds LLC Increases Stake in Equinox Gold Corp. $EQX

Key Points

• Gabelli Funds LLC increased its stake in Equinox Gold by 29.3% in Q3, adding 598,500 shares to hold 2,638,355 shares (~0.34% of the company) worth about $29.6 million.
• Equinox Gold announced a quarterly dividend of $0.015 per share (annualized $0.06, ~0.4% yield, ex-dividend March 12, payable March 26) and the stock carries an average analyst rating of "Buy" with a $17.00 average price target.

Gabelli Funds LLC increased its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,638,355 shares of the company's stock after acquiring an additional 598,500 shares during the quarter. Gabelli Funds LLC owned approximately 0.34% of Equinox Gold worth $29,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQX. Ruffer LLP lifted its holdings in Equinox Gold by 15.4% during the third quarter. Ruffer LLP now owns 8,651,889 shares of the company's stock worth $96,992,000 after buying an additional 1,152,288 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Equinox Gold during the 3rd quarter valued at $6,991,000. Maple Rock Capital Partners Inc. increased its holdings in shares of Equinox Gold by 102.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company's stock valued at $82,398,000 after acquiring an additional 7,229,260 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Equinox Gold by 70.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company's stock valued at $10,550,000 after acquiring an additional 390,000 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in shares of Equinox Gold in the 3rd quarter worth $1,111,000. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Trading Up 1.3%

Equinox Gold stock opened at $16.63 on Friday. The stock has a 50-day moving average price of $15.63 and a 200 day moving average price of $13.06. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 69.29 and a beta of 1.20. Equinox Gold Corp. has a 52 week low of $5.59 and a 52 week high of $18.96. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be issued a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, March 12th.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EQX shares. Scotiabank restated an "outperform" rating on shares of Equinox Gold in a research note on Monday, January 26th. Stifel Nicolaus began coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a "buy" rating on the stock. Zacks Research upgraded shares of Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. BMO Capital Markets reissued an "outperform" rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $17.00.

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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