Van ECK Associates Corp Buys 45,820,861 Shares of Equinox Gold Corp. $EQX

Key Points

• VanEck Associates Corp increased its stake in Equinox Gold (EQX) by 91.3% in Q3, buying 45,820,861 shares to hold 96,024,048 shares — about 12.24% of the company valued at $1,077,394,000.
• Analyst sentiment is positive: two analysts rate EQX a Strong Buy, five rate it a Buy and one a Hold, giving a consensus rating of Buy with a consensus target price of $17.00.
• Equinox Gold declared a quarterly dividend of $0.015 (annualized $0.06, yield 0.4%); the stock has a market cap of $13.01 billion, a P/E of 68.79 and a 52-week range of $5.59–$18.96.

Van ECK Associates Corp lifted its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 91.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,024,048 shares of the company's stock after buying an additional 45,820,861 shares during the period. Equinox Gold comprises approximately 1.0% of Van ECK Associates Corp's holdings, making the stock its 26th largest holding. Van ECK Associates Corp owned approximately 12.24% of Equinox Gold worth $1,077,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EQX. SBI Securities Co. Ltd. grew its position in Equinox Gold by 2,054.6% in the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company's stock valued at $27,000 after acquiring an additional 4,479 shares during the period. Smithfield Trust Co bought a new position in shares of Equinox Gold during the third quarter valued at $43,000. Blueshift Asset Management LLC acquired a new stake in shares of Equinox Gold in the 2nd quarter valued at $74,000. VestGen Advisors LLC acquired a new stake in shares of Equinox Gold in the 2nd quarter valued at $92,000. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Equinox Gold by 13.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,923 shares of the company's stock worth $103,000 after purchasing an additional 2,091 shares during the last quarter. Institutional investors own 38.85% of the company's stock.

Wall Street Analyst Weigh In

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

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $16.51 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.56 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $15.68 and a 200 day simple moving average of $13.16. Equinox Gold Corp. has a fifty-two week low of $5.59 and a fifty-two week high of $18.96. The firm has a market cap of $13.01 billion, a P/E ratio of 68.79 and a beta of 1.20.

Equinox Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.015 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.