Equinox Gold Corp. $EQX Stake Raised by L1 Capital Pty Ltd

L1 Capital Pty Ltd increased its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,164,556 shares of the company’s stock after buying an additional 2,768,141 shares during the period. Equinox Gold comprises 14.8% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 3rd largest holding. L1 Capital Pty Ltd owned approximately 2.57% of Equinox Gold worth $283,110,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EQX. Van ECK Associates Corp increased its stake in Equinox Gold by 91.3% during the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after buying an additional 45,820,861 shares during the period. Norges Bank purchased a new stake in Equinox Gold during the 4th quarter worth approximately $141,388,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Equinox Gold during the 3rd quarter worth approximately $40,600,000. Vanguard Group Inc. increased its stake in Equinox Gold by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after buying an additional 3,250,135 shares during the period. Finally, Waratah Capital Advisors Ltd. grew its holdings in Equinox Gold by 717.8% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock worth $39,564,000 after acquiring an additional 3,094,966 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Trading Up 2.9%

NYSEAMERICAN EQX opened at $10.54 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. Equinox Gold Corp. has a 52 week low of $5.61 and a 52 week high of $18.96. The stock has a market capitalization of $8.32 billion, a PE ratio of 13.18 and a beta of 1.18. The firm has a 50 day moving average of $13.43 and a two-hundred day moving average of $14.37.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. During the same quarter last year, the firm earned ($0.08) EPS. The company’s revenue was up 224.3% on a year-over-year basis. As a group, research analysts expect that Equinox Gold Corp. will post 1.27 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a $0.015 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Equinox Gold’s dividend payout ratio is presently 11.11%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank Of Canada lowered their price target on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday. 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 analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Equinox Gold has an average rating of “Buy” and an average price target of $14.00.

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.