Y Intercept Hong Kong Ltd Lowers Stock Holdings in Equinox Gold Corp. $EQX

Key Points

• Y Intercept Hong Kong Ltd sharply reduced its stake in Equinox Gold, cutting holdings by 82.4% in the first quarter and selling 225,220 shares. After the sale, it held 48,158 shares valued at about $696,000.
• Equinox Gold reported mixed quarterly results, posting $0.28 EPS versus expectations of $0.29 and revenue of $861.6 million versus the $896.9 million estimate. Revenue still jumped 224.3% year over year, and the company said analysts expect full-year EPS of 1.23.
• Wall Street remains generally positive on the stock, with a consensus rating of Buy and an average price target of $13.00. The shares opened at $9.45, below both that target and their 50-day and 200-day moving averages.

Y Intercept Hong Kong Ltd cut its position in Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 82.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,158 shares of the company's stock after selling 225,220 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Equinox Gold were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EQX. Louisbourg Investments Inc. grew its position in Equinox Gold by 8.8% in the 1st quarter. Louisbourg Investments Inc. now owns 375,900 shares of the company's stock valued at $5,418,000 after acquiring an additional 30,300 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Equinox Gold by 11.1% during the first quarter. Pictet Asset Management Holding SA now owns 149,962 shares of the company's stock worth $2,159,000 after purchasing an additional 15,001 shares in the last quarter. PKO Investment Management Joint Stock Co boosted its stake in shares of Equinox Gold by 2.3% in the first quarter. PKO Investment Management Joint Stock Co now owns 350,248 shares of the company's stock valued at $5,048,000 after purchasing an additional 7,861 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Equinox Gold by 40.1% in the first quarter. Capital Advisors Ltd. LLC now owns 15,079 shares of the company's stock valued at $218,000 after purchasing an additional 4,314 shares during the period. Finally, Purpose Unlimited Inc. acquired a new position in shares of Equinox Gold in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 38.85% of the company's stock.

Equinox Gold Stock Performance

Shares of EQX opened at $9.45 on Tuesday. Equinox Gold Corp. has a 1 year low of $6.01 and a 1 year high of $18.96. The stock has a market capitalization of $7.46 billion, a PE ratio of 11.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $13.80.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). The firm had revenue of $861.59 million for the quarter, compared to analysts' expectations of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm's quarterly revenue was up 224.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, analysts predict that Equinox Gold Corp. will post 1.23 earnings per share for the current fiscal year.

Equinox Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, May 21st. Equinox Gold's dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EQX. The Goldman Sachs Group raised shares of Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Zacks Research upgraded shares of Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada cut their price objective on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, Equinox Gold 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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