Equinox Gold Corp. $EQX Shares Sold by Gemsstock Ltd.

Gemsstock Ltd. trimmed its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,217,177 shares of the company’s stock after selling 225,728 shares during the quarter. Equinox Gold accounts for 10.5% of Gemsstock Ltd.’s portfolio, making the stock its largest position. Gemsstock Ltd. owned about 0.66% of Equinox Gold worth $73,249,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp raised its stake in Equinox Gold by 91.3% during the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after acquiring an additional 45,820,861 shares in the last quarter. Norges Bank acquired a new position in Equinox Gold during the fourth quarter worth $141,388,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Equinox Gold during the third quarter worth $40,600,000. Vanguard Group Inc. raised its stake in Equinox Gold by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after acquiring an additional 3,250,135 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. raised its stake in Equinox Gold by 717.8% during the third quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock worth $39,564,000 after acquiring an additional 3,094,966 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Trading Up 2.9%

NYSEAMERICAN:EQX opened at $10.54 on Friday. Equinox Gold Corp. has a 1-year low of $5.61 and a 1-year high of $18.96. The business’s 50-day moving average price is $13.43 and its two-hundred day moving average price is $14.37. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 13.18 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $861.59 million during the quarter, compared to analyst estimates of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) EPS. On average, equities analysts expect that Equinox Gold Corp. will post 1.27 earnings per share for the current year.

Equinox Gold Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on EQX shares. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Royal Bank Of Canada dropped their price objective on Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Equinox Gold has a consensus rating of “Buy” and an average price target of $14.00.

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.