Equinox Gold Corp. $EQX Stake Lessened by Invenomic Capital Management LP

Invenomic Capital Management LP cut its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 17.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,977,210 shares of the company’s stock after selling 640,874 shares during the period. Equinox Gold accounts for 1.6% of Invenomic Capital Management LP’s portfolio, making the stock its 14th largest position. Invenomic Capital Management LP owned approximately 0.38% of Equinox Gold worth $33,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Ruffer LLP lifted its position in shares of Equinox Gold by 15.4% during the third quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock worth $96,992,000 after purchasing an additional 1,152,288 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Equinox Gold in the third quarter worth about $6,991,000. Maple Rock Capital Partners Inc. increased its holdings in Equinox Gold by 102.1% in the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after buying an additional 7,229,260 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Equinox Gold by 70.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock valued at $10,550,000 after buying an additional 390,000 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in Equinox Gold during the third quarter valued at approximately $1,111,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Down 8.5%

EQX opened at $14.57 on Monday. The stock’s 50 day moving average price is $15.82 and its 200 day moving average price is $13.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.56 and a quick ratio of 1.27. The stock has a market cap of $11.49 billion, a P/E ratio of 60.71 and a beta of 1.20. Equinox Gold Corp. has a 12 month low of $5.59 and a 12 month high of $18.96.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, March 12th. Equinox Gold’s dividend payout ratio is currently 11.11%.

Analyst Ratings Changes

EQX has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They issued a “buy” rating on the stock. Finally, Zacks Research raised shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $17.00.

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.