116,441 Shares in Equinox Gold Corp. $EQX Purchased by Parvin Asset Management LLC

Parvin Asset Management LLC acquired a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 2nd quarter, HoldingsChannel reports. The fund acquired 116,441 shares of the company’s stock, valued at approximately $1,132,000.

A number of other hedge funds have also made changes to their positions in EQX. Royal Bank of Canada boosted its stake in shares of Equinox Gold by 232.7% in the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after acquiring an additional 390,690 shares during the last quarter. Millennium Management LLC acquired a new position in Equinox Gold in the 1st quarter valued at $6,883,000. Goldman Sachs Group Inc. lifted its holdings in Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock valued at $12,812,000 after purchasing an additional 490,251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Equinox Gold by 164.8% during 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 purchasing an additional 485,567 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Equinox Gold by 77.5% during the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock worth $2,067,000 after purchasing an additional 155,460 shares during the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Price Performance

Equinox Gold stock opened at $13.63 on Thursday. The company’s 50 day simple moving average is $10.36 and its 200-day simple moving average is $12.86. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 13.63 and a beta of 1.27. Equinox Gold Corp. has a 1 year low of $8.07 and a 1 year high of $18.96. 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 (NYSEAMERICAN:EQX) last released 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). The firm had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. As a group, equities research analysts expect that Equinox Gold Corp. will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Equinox Gold’s payout ratio is 16.67%.

Wall Street Analyst Weigh In

EQX has been the topic of several research reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada decreased their target price on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Finally, The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.00.

Equinox Gold 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.