Groupe la Francaise Acquires 250,000 Shares of Equinox Gold Corp. $EQX

Key Points

• Groupe la Française increased its Equinox Gold stake by 12.5% in the second quarter, purchasing 250,000 shares and bringing its holdings to 2.25 million shares, or 0.19% of the company.
• Equinox Gold reported quarterly revenue of $769.8 million, up 60.8% year over year, but earnings per share of $0.16 narrowly missed analysts’ $0.17 estimate.
• The company raised its quarterly dividend to $0.0225 per share, equal to an annualized $0.09 and a 0.7% yield. Analysts maintain a consensus “Buy” rating with a $13 price target.

Groupe la Francaise boosted its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,250,000 shares of the company's stock after buying an additional 250,000 shares during the period. Groupe la Francaise owned 0.19% of Equinox Gold worth $21,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company's stock valued at $29,000 after purchasing an additional 982 shares in the last quarter. Quarry LP boosted its position in Equinox Gold by 329.9% during the fourth quarter. Quarry LP now owns 2,734 shares of the company's stock valued at $38,000 after purchasing an additional 2,098 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Equinox Gold in the fourth quarter valued at about $39,000. Finally, Purpose Unlimited Inc. purchased a new position in Equinox Gold in the fourth quarter valued at about $42,000. Institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Performance

Shares of NYSEAMERICAN:EQX opened at $12.81 on Monday. The business's 50-day moving average is $10.77 and its 200 day moving average is $12.73. Equinox Gold Corp. has a 1 year low of $8.48 and a 1 year high of $18.96. The firm has a market capitalization of $14.96 billion, a P/E ratio of 12.81 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The business had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. During the same period in the prior year, the business posted $0.11 EPS. Equinox Gold's revenue was up 60.8% compared to the same quarter last year. On average, research analysts predict that Equinox Gold Corp. will post 1.1 earnings per share 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 paid a $0.0225 dividend. This is a boost from Equinox Gold's previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Equinox Gold's dividend payout ratio (DPR) is 16.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Equinox Gold in a report on Thursday, July 16th. Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. Zacks Research lowered shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. The Goldman Sachs Group raised shares of Equinox Gold from a "buy" rating to a "buy" rating in a research report on Monday, June 8th. Finally, Royal Bank Of Canada lowered 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $13.00.

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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