Cibc World Market Inc. Grows Stake in Equinox Gold Corp. $EQX

Cibc World Market Inc. lifted its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 34.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 773,520 shares of the company’s stock after buying an additional 199,018 shares during the period. Cibc World Market Inc. owned approximately 0.10% of Equinox Gold worth $10,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of EQX. Van ECK Associates Corp boosted its stake in shares of Equinox Gold by 91.3% in the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after buying an additional 45,820,861 shares during the last quarter. Norges Bank purchased a new position in shares of Equinox Gold in the 4th quarter worth $141,388,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Equinox Gold in the 3rd quarter worth $40,600,000. Vanguard Group Inc. boosted its stake in shares of Equinox Gold by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after buying an additional 3,250,135 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its stake in shares of Equinox Gold by 717.8% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock worth $39,564,000 after buying an additional 3,094,966 shares during the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EQX. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce upgraded 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 issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $10.79 on Friday. The company has a market capitalization of $8.51 billion, a PE ratio of 13.49 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The business’s fifty day moving average is $13.73 and its 200 day moving average is $14.44. Equinox Gold Corp. has a fifty-two week low of $5.61 and a fifty-two week high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results 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 company had revenue of $861.59 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 224.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. Sell-side analysts predict that Equinox Gold Corp. will post 1.27 earnings per share for the current year.

Equinox Gold Announces Dividend

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

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.