JPMorgan Chase & Co. Grows Position in Equinox Gold Corp. $EQX

JPMorgan Chase & Co. increased its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 77.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531,209 shares of the company’s stock after purchasing an additional 231,088 shares during the quarter. JPMorgan Chase & Co. owned 0.07% of Equinox Gold worth $5,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Smithfield Trust Co purchased a new position in Equinox Gold during the third quarter worth about $43,000. Wexford Capital LP acquired a new position in shares of Equinox Gold in the 3rd quarter worth approximately $49,000. Advisory Services Network LLC acquired a new position in shares of Equinox Gold in the 3rd quarter worth approximately $71,000. Blueshift Asset Management LLC purchased a new position in shares of Equinox Gold during the 2nd quarter worth approximately $74,000. Finally, VestGen Advisors LLC acquired a new stake in Equinox Gold in the 2nd quarter valued at approximately $92,000. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Stifel Nicolaus began coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating for the company. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Finally, Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $14.46 on Wednesday. The business has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $13.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. Equinox Gold Corp. has a one year low of $5.59 and a one year high of $18.96. The company has a market cap of $11.41 billion, a PE ratio of 60.25 and a beta of 1.20.

Equinox Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, March 12th. Equinox Gold’s payout ratio is 11.11%.

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.