Man Group plc Buys New Holdings in Equinox Gold Corp. $EQX

Man Group plc purchased a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,238,882 shares of the company’s stock, valued at approximately $31,528,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Invst LLC purchased a new position in shares of Equinox Gold in the 2nd quarter worth about $1,986,000. Jupiter Topco LLC purchased a new stake in shares of Equinox Gold during the 2nd quarter worth about $6,450,000. Legal & General Group Plc purchased a new stake in shares of Equinox Gold during the 2nd quarter worth about $39,385,000. The Manufacturers Life Insurance Company acquired a new stake in Equinox Gold during the 2nd quarter worth approximately $40,220,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Equinox Gold during the 2nd quarter worth approximately $126,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQX. Royal Bank Of Canada cut their price target on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $13.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $13.63 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. Equinox Gold Corp. has a 1-year low of $8.07 and a 1-year high of $18.96. The company has a market capitalization of $15.91 billion, a price-to-earnings ratio of 13.63 and a beta of 1.27. The business has a 50-day moving average of $10.36 and a 200-day moving average of $12.86.

Equinox Gold (NYSEAMERICAN:EQX) last announced its 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 company had revenue of $769.80 million for 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%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. On average, equities analysts anticipate that Equinox Gold Corp. will post 1.1 EPS 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 paid a dividend of $0.0225 per share. 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 dividend yield of 0.7%. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s payout ratio is 16.67%.

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.