Maverick Capital Ltd. Takes $1 Million Position in Equinox Gold Corp. $EQX

Maverick Capital Ltd. purchased a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the first quarter, HoldingsChannel.com reports. The fund purchased 69,510 shares of the company’s stock, valued at approximately $1,004,000.

A number of other large investors also recently modified their holdings of EQX. Vanguard Group Inc. increased its holdings in Equinox Gold by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after acquiring an additional 3,250,135 shares during the period. FIL Ltd bought a new position in Equinox Gold in the 4th quarter valued at $332,888,000. Maple Rock Capital Partners Inc. grew its position in shares of Equinox Gold by 21.6% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock valued at $284,152,000 after purchasing an additional 3,589,200 shares in the last quarter. L1 Capital Pty Ltd grew its position in shares of Equinox Gold by 15.9% during the 4th quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock valued at $283,110,000 after purchasing an additional 2,768,141 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Equinox Gold by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock worth $174,928,000 after purchasing an additional 603,803 shares during the period. 38.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on EQX shares. Royal Bank Of Canada lowered their price objective on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $13.00.

Equinox Gold Stock Down 3.9%

Shares of NYSEAMERICAN:EQX opened at $9.15 on Wednesday. The firm has a market capitalization of $7.22 billion, a PE ratio of 11.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. Equinox Gold Corp. has a 52-week low of $6.01 and a 52-week high of $18.96. The firm has a fifty day moving average of $10.43 and a 200 day moving average of $13.40.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. During the same period last year, the firm earned ($0.08) EPS. The company’s revenue for the quarter was up 224.3% on a year-over-year basis. As a group, research analysts anticipate that Equinox Gold Corp. will post 1.12 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 21st were paid a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 0.7%. Equinox Gold’s dividend payout ratio is currently 11.11%.

Equinox Gold 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.