Quantbot Technologies LP Takes $3.43 Million Position in Equinox Gold Corp. $EQX

Quantbot Technologies LP bought a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 353,237 shares of the company’s stock, valued at approximately $3,433,000.

A number of other hedge funds also recently made changes to their positions in the company. Korea Investment CORP purchased a new position in Equinox Gold in the 2nd quarter valued at about $1,824,000. Bard Associates Inc. bought a new stake in shares of Equinox Gold in the second quarter worth $3,763,000. Caldwell Investment Management Ltd. bought a new stake in shares of Equinox Gold in the second quarter worth $545,000. E Fund Management Co. Ltd. acquired a new stake in Equinox Gold in the second quarter valued at $221,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in Equinox Gold in the second quarter valued at $299,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $13.53 on Monday. The company’s fifty day moving average is $10.21 and its two-hundred day moving average is $12.88. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. Equinox Gold Corp. has a 1-year low of $7.77 and a 1-year high of $18.96. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 13.53 and a beta of 1.27.

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

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.0225 dividend. The ex-dividend date is Wednesday, August 19th. This is an increase from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. Equinox Gold’s payout ratio is presently 16.67%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EQX shares. Royal Bank Of Canada decreased 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. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.00.

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.