Y Intercept Hong Kong Ltd Decreases Holdings in Equinox Gold Corp. $EQX

Y Intercept Hong Kong Ltd reduced its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 82.4% in the 1st quarter, HoldingsChannel reports. The fund owned 48,158 shares of the company’s stock after selling 225,220 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Equinox Gold were worth $696,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. FIL Ltd purchased a new stake in Equinox Gold during the fourth quarter worth approximately $332,888,000. Norges Bank acquired a new position in Equinox Gold in the fourth quarter valued at approximately $141,388,000. Boston Partners purchased a new position in Equinox Gold in the fourth quarter valued at approximately $75,290,000. Arrowstreet Capital Limited Partnership purchased a new position in Equinox Gold in the fourth quarter valued at approximately $55,875,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Equinox Gold by 163.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 5,946,309 shares of the company’s stock worth $83,576,000 after purchasing an additional 3,688,805 shares in the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Trading Down 3.2%

EQX opened at $9.45 on Tuesday. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 11.81 and a beta of 1.26. Equinox Gold Corp. has a 52 week low of $6.01 and a 52 week high of $18.96. The business’s 50 day moving average is $11.49 and its two-hundred day moving average is $13.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 net margin of 21.72% and a return on equity of 10.26%. Equinox Gold’s revenue was up 224.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.08) earnings per share. On average, research analysts predict that Equinox Gold Corp. will post 1.23 EPS for the current year.

Equinox Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a $0.015 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 0.6%. Equinox Gold’s dividend payout ratio is 11.11%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada reduced their price target on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $13.00.

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.