Coastal Bridge Advisors LLC Acquires Shares of 47,664 Equinox Gold Corp. $EQX

Coastal Bridge Advisors LLC acquired a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,664 shares of the company’s stock, valued at approximately $464,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Equinox Gold by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock valued at $431,665,000 after purchasing an additional 3,250,135 shares in the last quarter. PKO Investment Management Joint Stock Co increased its stake in shares of Equinox Gold by 41.3% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 342,387 shares of the company’s stock worth $4,821,000 after purchasing an additional 100,000 shares in the last quarter. Bard Associates Inc. bought a new stake in shares of Equinox Gold during the 2nd quarter valued at $3,763,000. Euro Pacific Asset Management LLC raised its position in shares of Equinox Gold by 20.2% during the 1st quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock valued at $32,596,000 after purchasing an additional 385,638 shares during the period. Finally, Amundi lifted its stake in shares of Equinox Gold by 14.1% during the 1st quarter. Amundi now owns 4,239,964 shares of the company’s stock valued at $61,310,000 after buying an additional 523,741 shares in the last quarter. Institutional investors own 38.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EQX. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Royal Bank Of Canada cut their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold presently has an average rating of “Buy” and an average price target of $13.00.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $12.99 on Friday. 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 Corp. has a 1-year low of $8.24 and a 1-year high of $18.96. The business has a 50 day simple moving average of $10.47 and a two-hundred day simple moving average of $12.86. The stock has a market capitalization of $15.17 billion, a PE ratio of 12.99 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 60.8% compared to the same quarter last year. On average, research analysts predict that Equinox Gold Corp. will post 1.1 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.0225 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s dividend payout ratio is currently 16.67%.

Equinox Gold Company 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.