Gamco Investors INC. ET AL Boosts Holdings in Equinox Gold Corp. $EQX

Key Points

• Gamco Investors increased its stake in Equinox Gold by 214% in Q3 to 190,060 shares (an additional 129,535) worth about $2.13M, and institutional investors now own roughly 38.85% of the company with other large buys from Ruffer and Maple Rock.
• Wall Street sentiment is positive with a consensus Buy rating and an average price target of $17.00, backed by several recent upgrades and outperform/buy reissues.
• EQX trades around $16.52 (12‑month range $5.59–$18.96) with a market cap of $13.02B and a P/E of 68.8, and the company announced a quarterly dividend of $0.015 per share (annualized $0.06, ~0.4% yield) with an ex‑dividend date of March 12.

Gamco Investors INC. ET AL raised its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 214.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,060 shares of the company's stock after acquiring an additional 129,535 shares during the period. Gamco Investors INC. ET AL's holdings in Equinox Gold were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

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

Equinox Gold Price Performance

Shares of EQX stock opened at $16.52 on Wednesday. Equinox Gold Corp. has a twelve month low of $5.59 and a twelve month high of $18.96. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $15.73 and a two-hundred day simple moving average of $13.22. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 68.83 and a beta of 1.20.

Equinox Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%.

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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