Invst LLC Purchases New Holdings in Equinox Gold Corp. $EQX

Invst LLC purchased a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 204,279 shares of the company’s stock, valued at approximately $1,986,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of Equinox Gold by 232.7% during the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after purchasing an additional 390,690 shares during the last quarter. Millennium Management LLC bought a new position in Equinox Gold during the first quarter valued at $6,883,000. Goldman Sachs Group Inc. grew its holdings in Equinox Gold by 35.7% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Equinox Gold by 164.8% in the first 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 buying an additional 485,567 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Equinox Gold by 77.5% in the second quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock valued at $2,067,000 after buying an additional 155,460 shares during the period. Institutional investors own 38.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EQX. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Royal Bank Of Canada dropped their price target 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 reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Finally, Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Equinox Gold has a consensus rating of “Buy” and a consensus target price of $13.00.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $13.98 on Wednesday. The stock has a market cap of $16.32 billion, a P/E ratio of 13.98 and a beta of 1.27. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average price is $10.31 and its two-hundred day moving average price is $12.86. Equinox Gold Corp. has a twelve month low of $8.07 and a twelve month high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, equities analysts predict that Equinox Gold Corp. will post 1.1 EPS for the current fiscal 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 issued a dividend of $0.0225 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s payout ratio is presently 16.67%.

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.