CIBC Asset Management Inc Raises Stock Position in Equinox Gold Corp. $EQX

CIBC Asset Management Inc raised its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 778,148 shares of the company’s stock after buying an additional 52,743 shares during the quarter. CIBC Asset Management Inc’s holdings in Equinox Gold were worth $10,943,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EQX. Van ECK Associates Corp increased its position 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 valued at $1,077,394,000 after purchasing an additional 45,820,861 shares during the period. Norges Bank purchased a new position in Equinox Gold during the 4th quarter valued at $141,388,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Equinox Gold during the 3rd quarter valued at $40,600,000. Vanguard Group Inc. grew its position in shares of Equinox Gold by 11.8% in 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 position in shares of Equinox Gold by 717.8% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock worth $39,564,000 after buying an additional 3,094,966 shares during the period. 38.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on EQX shares. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Stock Down 6.2%

NYSEAMERICAN:EQX opened at $10.79 on Friday. The firm’s 50-day moving average price is $13.73 and its 200-day moving average price is $14.44. The company has a market capitalization of $8.51 billion, a PE ratio of 13.49 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 0.75. Equinox Gold Corp. has a 1-year low of $5.61 and a 1-year high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share. On average, equities analysts predict that Equinox Gold Corp. will post 1.27 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s dividend payout ratio is 11.11%.

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.