Polar Asset Management Partners Inc. Trims Holdings in Equinox Gold Corp. $EQX

Polar Asset Management Partners Inc. reduced its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 97.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 255,000 shares of the company’s stock after selling 9,810,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Equinox Gold were worth $2,864,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EQX. Royal Bank of Canada increased its holdings in 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 during the last quarter. Millennium Management LLC acquired a new position in Equinox Gold during the first quarter worth $6,883,000. Goldman Sachs Group Inc. lifted its stake in Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after purchasing an additional 490,251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Equinox Gold by 164.8% during the first 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 boosted its position in shares of Equinox Gold by 77.5% during the second 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 period. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Stock Down 7.5%

Equinox Gold stock opened at $12.41 on Friday. Equinox Gold Corp. has a twelve month low of $5.59 and a twelve month high of $18.96. The stock’s fifty day simple moving average is $15.77 and its 200-day simple moving average is $13.45. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $9.78 billion, a P/E ratio of 51.71 and a beta of 1.20.

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 paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, March 12th. Equinox Gold’s payout ratio is presently 11.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Stifel Nicolaus began coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They set a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Two equities research 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 MarketBeat, the stock presently has an average rating of “Buy” and a consensus 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.