E Fund Management Hong Kong Co. Ltd. Invests $615,000 in Equinox Gold Corp. $EQX

E Fund Management Hong Kong Co. Ltd. bought a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 43,831 shares of the company’s stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQX. Royal Bank of Canada grew its position in shares of Equinox Gold by 232.7% in the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after buying an additional 390,690 shares during the period. Millennium Management LLC purchased a new stake in shares of Equinox Gold in the 1st quarter worth about $6,883,000. Goldman Sachs Group Inc. grew its position in shares of Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after buying an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Equinox Gold by 164.8% in the 1st 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 period. Finally, Geode Capital Management LLC grew its position in Equinox Gold by 77.5% during the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock valued at $2,067,000 after purchasing an additional 155,460 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Equinox Gold

Here are the key news stories impacting Equinox Gold this week:

• Positive Sentiment: The deal would combine Equinox and Orla into a larger gold producer with expected annual output of about 1.1 million ounces and a growth path toward 1.9 million ounces, which could improve scale and long-term production visibility. Article Title
• Positive Sentiment: The transaction could create Canada’s second-largest gold producer and a major North American gold platform, which may appeal to investors looking for greater size, liquidity, and operational diversity. Article Title
• Neutral Sentiment: Equinox has also recently posted solid operating results, reporting strong gold production and staying on track for full-year guidance, which supports the investment case even as attention shifts to the merger. Article Title
• Negative Sentiment: Because the acquisition is mostly stock-funded, shareholders may be concerned about dilution and execution risk as Equinox absorbs a large new asset base and works to realize the promised synergies. Article Title

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQX. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.00.

Equinox Gold Trading Down 2.1%

Equinox Gold stock opened at $14.49 on Thursday. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 18.11 and a beta of 1.21. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. Equinox Gold Corp. has a 12-month low of $5.61 and a 12-month high of $18.96. The firm has a 50 day moving average of $14.56 and a 200 day moving average of $14.35.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company’s quarterly revenue was up 224.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) EPS. As a group, research analysts predict that Equinox Gold Corp. will post 1.24 earnings per share for the current year.

Equinox Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, May 21st. Equinox Gold’s payout ratio is presently 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.