Polar Asset Management Partners Inc. Reduces Position in Equinox Gold Corp. $EQX

Key Points

• Polar Asset Management Partners Inc. cut its Equinox Gold stake by 97.5% in Q3, selling 9,810,000 shares and retaining 255,000 shares valued at $2.86 million.
• Several large institutions — including RBC, Millennium Management, Goldman Sachs and UBS — increased or initiated positions in Equinox Gold, leaving institutional ownership at 38.85%.
• Analysts' consensus is an average "Buy" with a $17 target; EQX recently traded near $12.41 (52‑week range $5.59–$18.96) and declared a $0.015 quarterly dividend (~0.5% yield).

Polar Asset Management Partners Inc. decreased its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 97.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 255,000 shares of the company's stock after selling 9,810,000 shares during the period. Polar Asset Management Partners Inc.'s holdings in Equinox Gold were worth $2,864,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Equinox Gold by 232.7% in the first quarter. Royal Bank of Canada now owns 558,605 shares of the company's stock valued at $3,843,000 after purchasing an additional 390,690 shares in the last quarter. Millennium Management LLC purchased a new position in Equinox Gold during the first quarter worth approximately $6,883,000. Goldman Sachs Group Inc. boosted its stake in Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company's stock worth $12,812,000 after buying an additional 490,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Equinox Gold by 164.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company's stock worth $5,367,000 after buying an additional 485,567 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Equinox Gold by 77.5% in the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company's stock valued at $2,067,000 after buying an additional 155,460 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Equinox Gold Price Performance

EQX stock opened at $12.41 on Friday. 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. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 51.71 and a beta of 1.20. The business has a fifty day moving average of $15.77 and a two-hundred day moving average of $13.45.

Equinox Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, March 12th. Equinox Gold's payout ratio is 11.11%.

About Equinox Gold

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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