Van ECK Associates Corp Increases Holdings in Equinox Gold Corp. $EQX

Van ECK Associates Corp lifted its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 2.8% in the second quarter, HoldingsChannel.com reports. The fund owned 87,435,651 shares of the company’s stock after buying an additional 2,355,044 shares during the quarter. Van ECK Associates Corp owned about 0.07% of Equinox Gold worth $849,875,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EQX. Mcguire Capital Advisors Inc. bought a new stake in Equinox Gold during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its stake in Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares during the period. Quarry LP boosted its stake in Equinox Gold by 329.9% in the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after purchasing an additional 2,098 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Equinox Gold during the 4th quarter valued at approximately $39,000. Finally, Purpose Unlimited Inc. purchased a new stake in Equinox Gold during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EQX. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Royal Bank Of Canada cut their target price on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Equinox Gold has a consensus rating of “Buy” and a consensus price target of $13.00.

Equinox Gold Trading Down 3.4%

Shares of NYSEAMERICAN EQX opened at $12.99 on Friday. Equinox Gold Corp. has a 1-year low of $8.24 and a 1-year high of $18.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. The business’s 50 day moving average is $10.47 and its two-hundred day moving average is $12.86. The stock has a market capitalization of $15.17 billion, a P/E ratio of 12.99 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data 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). The company had revenue of $769.80 million during the quarter, compared to the consensus estimate of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. Equinox Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. As a group, research analysts expect that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s dividend payout ratio (DPR) is presently 16.67%.

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.