Persistent Asset Partners Ltd Purchases New Holdings in Equinox Gold Corp. $EQX

Key Points

• Persistent Asset Partners acquired 123,426 shares of Equinox Gold during the second quarter, valued at approximately $1.2 million. Institutional investors collectively own 38.85% of the company.
• Equinox Gold increased its quarterly dividend to $0.0225 per share, or $0.09 annually, representing a 0.8% yield and an 11.11% payout ratio.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $13.00 target price, although RBC lowered its target from $14.00 to $13.00 and Zacks downgraded the stock to “Hold.”

Persistent Asset Partners Ltd acquired a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 123,426 shares of the company's stock, valued at approximately $1,200,000.

Other large investors also recently made changes to their positions in the company. Mcguire Capital Advisors Inc. acquired a new position in Equinox Gold in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company's stock worth $29,000 after purchasing an additional 982 shares during the period. Quarry LP raised its position in shares of Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company's stock valued at $38,000 after buying an additional 2,098 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $39,000. Finally, Purpose Unlimited Inc. bought a new stake in shares of Equinox Gold in the fourth quarter valued at approximately $42,000. Institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $11.60 on Monday. The firm's fifty day moving average price is $10.00 and its two-hundred day moving average price is $12.99. The stock has a market cap of $13.54 billion, a PE ratio of 11.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. Equinox Gold Corp. has a fifty-two week low of $7.54 and a fifty-two week high of $18.96.

Equinox Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. This is an increase from Equinox Gold's previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 19th. Equinox Gold's dividend payout ratio (DPR) is presently 11.11%.

Analyst Ratings Changes

EQX has been the topic of a number of recent research reports. Royal Bank Of Canada lowered their price objective on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Scotiabank restated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Thursday, July 16th. The Goldman Sachs Group upgraded shares of Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Finally, Zacks Research downgraded shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.

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