PCJ Investment Counsel Ltd. Raises Stock Position in Equinox Gold Corp. $EQX

PCJ Investment Counsel Ltd. grew its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 50.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,230 shares of the company’s stock after purchasing an additional 223,870 shares during the quarter. Equinox Gold comprises about 2.1% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 13th biggest holding. PCJ Investment Counsel Ltd. owned about 0.09% of Equinox Gold worth $7,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smithfield Trust Co purchased a new position in shares of Equinox Gold during the third quarter valued at about $43,000. SBI Securities Co. Ltd. lifted its holdings in Equinox Gold by 2,054.6% in the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock worth $27,000 after buying an additional 4,479 shares during the period. Kercheville Advisors LLC purchased a new stake in Equinox Gold in the third quarter worth about $112,000. KW Wealth Management LLC bought a new stake in Equinox Gold during the 3rd quarter valued at approximately $114,000. Finally, Heritage Family Offices LLP bought a new stake in Equinox Gold during the 3rd quarter valued at approximately $131,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Stifel Nicolaus started coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce raised 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 assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $16.52 on Wednesday. Equinox Gold Corp. has a 1 year low of $5.59 and a 1 year high of $18.96. The firm’s 50-day moving average is $15.73 and its 200 day moving average is $13.22. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 68.83 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.56 and a quick ratio of 1.27.

Equinox Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, March 12th.

About Equinox Gold

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.