WINTON GROUP Ltd Acquires 199,050 Shares of Equinox Gold Corp. $EQX

Key Points

• WINTON GROUP Ltd increased its Equinox Gold stake by 45.4% in the second quarter, adding 199,050 shares for a total holding of 637,500 shares valued at approximately $6.2 million.
• Equinox Gold’s latest quarter showed 60.8% year-over-year revenue growth to $769.8 million, though earnings of $0.16 per share fell slightly short of analyst expectations.
• The company raised its quarterly dividend to $0.0225 per share, while analysts maintained a consensus “Buy” rating with an average price target of $13.00.

WINTON GROUP Ltd boosted its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 45.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 637,500 shares of the company's stock after acquiring an additional 199,050 shares during the period. WINTON GROUP Ltd owned 0.05% of Equinox Gold worth $6,196,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in 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 increased its holdings in Equinox Gold by 96.7% in 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 during the last quarter. Quarry LP lifted its stake in 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 during the period. Banque Cantonale Vaudoise acquired a new position in Equinox Gold in the fourth quarter valued at about $39,000. Finally, Purpose Unlimited Inc. acquired 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 Down 5.1%

Shares of Equinox Gold stock opened at $12.20 on Friday. Equinox Gold Corp. has a 1 year low of $8.48 and a 1 year high of $18.96. The business has a 50-day moving average of $10.99 and a two-hundred day moving average of $12.63. The company has a market capitalization of $14.24 billion, a P/E ratio of 12.20 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 released its quarterly earnings data 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 net margin of 26.30% and a return on equity of 10.91%. The business had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. During the same quarter last year, the firm earned $0.11 EPS. The company's revenue for the quarter was up 60.8% on a year-over-year basis. As a group, equities analysts predict that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a $0.0225 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This is an increase from Equinox Gold's previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Equinox Gold's payout ratio is presently 16.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EQX shares. Zacks Research lowered Equinox Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated 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 report on Monday, June 8th. Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Friday, August 7th. Finally, Royal Bank Of Canada cut their target price on shares of Equinox Gold from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $13.00.

About Equinox Gold

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold's assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.

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