PCJ Investment Counsel Ltd. Acquires 223,870 Shares of Equinox Gold Corp. $EQX

PCJ Investment Counsel Ltd. raised its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 50.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 668,230 shares of the company’s stock after acquiring an additional 223,870 shares during the quarter. Equinox Gold accounts for approximately 2.1% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 13th biggest position. PCJ Investment Counsel Ltd.’s holdings in Equinox Gold were worth $7,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after purchasing an additional 45,820,861 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Equinox Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock valued at $307,659,000 after buying an additional 822,981 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Equinox Gold by 11.1% during the second quarter. Donald Smith & CO. Inc. now owns 26,507,615 shares of the company’s stock valued at $152,419,000 after buying an additional 2,643,856 shares during the last quarter. L1 Capital Pty Ltd increased its holdings in Equinox Gold by 120.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after buying an additional 13,060,846 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. increased its holdings in Equinox Gold by 102.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after buying an additional 7,229,260 shares in the last quarter. Institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Up 0.1%

EQX stock opened at $16.52 on Wednesday. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 68.83 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. The business’s 50-day moving average is $15.73 and its two-hundred day moving average is $13.22. Equinox Gold Corp. has a fifty-two week low of $5.59 and a fifty-two week high of $18.96.

Equinox Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a dividend of $0.015 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.4%.

Wall Street Analyst Weigh In

EQX has been the topic of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.00.

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.