Cibc World Market Inc. Purchases New Holdings in Equinox Gold Corp. $EQX

Cibc World Market Inc. bought a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, HoldingsChannel.com reports. The fund bought 686,245 shares of the company’s stock, valued at approximately $6,670,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Equinox Gold by 232.7% during the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock valued at $3,843,000 after acquiring an additional 390,690 shares during the period. Millennium Management LLC bought a new position in shares of Equinox Gold in the first quarter worth about $6,883,000. Goldman Sachs Group Inc. grew its holdings in shares of Equinox Gold by 35.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after purchasing an additional 490,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Equinox Gold by 164.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock worth $5,367,000 after buying an additional 485,567 shares during the period. Finally, Geode Capital Management LLC increased its stake in Equinox Gold by 77.5% in the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock worth $2,067,000 after buying an additional 155,460 shares during the period. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Trading Up 1.6%

EQX opened at $13.98 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 13.98 and a beta of 1.27. Equinox Gold Corp. has a 12 month low of $8.07 and a 12 month high of $18.96. The stock has a fifty day moving average price of $10.31 and a 200-day moving average price of $12.86.

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

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, August 19th. This is an increase from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s payout ratio is presently 16.67%.

Analyst Ratings Changes

Several equities research analysts have issued reports on EQX shares. Royal Bank Of Canada lowered their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.00.

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.