Caldwell Investment Management Ltd. Takes $545,000 Position in Equinox Gold Corp. $EQX

Caldwell Investment Management Ltd. purchased a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,000 shares of the company’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in EQX. Royal Bank of Canada increased its holdings in shares of Equinox Gold by 232.7% in the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after buying an additional 390,690 shares during the period. Millennium Management LLC purchased a new stake in Equinox Gold during the 1st quarter valued at about $6,883,000. Goldman Sachs Group Inc. grew its position in Equinox Gold by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after acquiring an additional 490,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Equinox Gold by 164.8% during the 1st 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 acquiring an additional 485,567 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Equinox Gold by 77.5% in the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock worth $2,067,000 after purchasing an additional 155,460 shares during the period. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EQX shares. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. 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. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada dropped their target price on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.00.

Equinox Gold Stock Performance

Shares of EQX stock opened at $13.53 on Friday. The company’s fifty day moving average price is $10.21 and its 200-day moving average price is $12.89. The stock has a market cap of $15.80 billion, a PE ratio of 13.53 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. Equinox Gold Corp. has a 12 month low of $7.77 and a 12 month high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The company’s revenue was up 60.8% on a year-over-year basis. During the same period last year, the business earned $0.11 earnings per share. On average, equities analysts expect that Equinox Gold Corp. will post 1.12 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend 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 of this dividend is Wednesday, August 19th. Equinox Gold’s dividend payout ratio 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.