Cardinal Point Capital Management ULC Cuts Stock Position in Equinox Gold Corp. $EQX

Cardinal Point Capital Management ULC reduced its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 36.6% during the first quarter, Holdings Channel reports. The institutional investor owned 100,925 shares of the company’s stock after selling 58,150 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Equinox Gold were worth $1,455,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Mcguire Capital Advisors Inc. acquired a new position in shares of Equinox Gold during the fourth quarter worth $25,000. Aventura Private Wealth LLC purchased a new position in Equinox Gold during the 4th quarter worth $28,000. Lodestone Wealth Management LLC acquired a new position in Equinox Gold during the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Equinox Gold in the fourth quarter valued at about $37,000. Finally, Quarry LP boosted its holdings in Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after acquiring an additional 2,098 shares in the last quarter. Institutional investors own 38.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada cut their price target on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Zacks Research raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.00.

Equinox Gold Price Performance

Equinox Gold stock opened at $9.37 on Thursday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 11.71 and a beta of 1.18. The company’s fifty day moving average price is $12.73 and its 200 day moving average price is $14.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. Equinox Gold Corp. has a 1 year low of $5.61 and a 1 year high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company had revenue of $861.59 million for the quarter, compared to analysts’ expectations of $896.94 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. As a group, equities research analysts anticipate that Equinox Gold Corp. will post 1.27 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. Shareholders of record on Thursday, May 21st were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s payout ratio is 11.11%.

About Equinox Gold

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.