Invenomic Capital Management LP Purchases 50,279 Shares of Equinox Gold Corp. $EQX

Invenomic Capital Management LP boosted its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,027,489 shares of the company’s stock after buying an additional 50,279 shares during the quarter. Equinox Gold makes up 2.0% of Invenomic Capital Management LP’s portfolio, making the stock its 9th biggest position. Invenomic Capital Management LP’s holdings in Equinox Gold were worth $42,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings 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 valued at $3,843,000 after purchasing an additional 390,690 shares in the last quarter. Millennium Management LLC bought a new position in shares of Equinox Gold in the 1st quarter valued at $6,883,000. Goldman Sachs Group Inc. raised its holdings in shares of Equinox Gold by 35.7% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Equinox Gold by 164.8% during 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 last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Equinox Gold by 77.5% during the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock worth $2,067,000 after buying an additional 155,460 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on EQX. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada dropped their target price on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, June 8th. 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. Finally, The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Equinox Gold has an average rating of “Buy” and an average target price of $14.00.

Equinox Gold Stock Down 4.4%

Shares of EQX opened at $11.03 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. 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 $8.70 billion, a price-to-earnings ratio of 13.79 and a beta of 1.18. The stock has a fifty day moving average of $13.23 and a 200-day moving average of $14.34.

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

Equinox Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s 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.