Equinox Gold Corp. $EQX Shares Bought by Groupe la Francaise

Groupe la Francaise raised its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,250,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Groupe la Francaise’s holdings in Equinox Gold were worth $21,934,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of Equinox Gold during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC increased its holdings in Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after buying an additional 982 shares during the period. Quarry LP raised its position in Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after buying an additional 2,098 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Equinox Gold during the 4th quarter worth approximately $39,000. Finally, Purpose Unlimited Inc. acquired a new stake in Equinox Gold during the 4th quarter valued at approximately $42,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Equinox Gold Stock Performance

Shares of NYSEAMERICAN:EQX opened at $12.81 on Monday. The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $12.73. Equinox Gold Corp. has a 1 year low of $8.48 and a 1 year high of $18.96. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of 12.81 and a beta of 1.32. 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 (NYSEAMERICAN:EQX) last issued 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 company had revenue of $769.80 million during 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%.Equinox Gold’s revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities research analysts forecast that Equinox Gold Corp. will post 1.1 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.0225 per share. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. Equinox Gold’s payout ratio is currently 16.67%.

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.