Cardinal Point Capital Management ULC Sells 58,150 Shares of Equinox Gold Corp. $EQX

Cardinal Point Capital Management ULC cut its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 36.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,925 shares of the company’s stock after selling 58,150 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Equinox Gold were worth $1,455,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. purchased a new position in shares of Equinox Gold during the fourth quarter valued at approximately $25,000. Aventura Private Wealth LLC bought a new stake in shares of Equinox Gold during the 4th quarter worth approximately $28,000. Lodestone Wealth Management LLC purchased a new position in Equinox Gold during the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in Equinox Gold during the 4th quarter valued at $37,000. Finally, Quarry LP grew its position in Equinox Gold by 329.9% in the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after acquiring an additional 2,098 shares during the last quarter. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Trading Down 4.1%

NYSEAMERICAN EQX opened at $9.37 on Thursday. Equinox Gold Corp. has a one year low of $5.61 and a one year high of $18.96. 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 company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.71 and a beta of 1.18. The company’s 50-day simple moving average is $12.73 and its two-hundred day simple moving average is $14.21.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly 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 business had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.Equinox Gold’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Equities analysts forecast that Equinox Gold Corp. will post 1.27 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EQX. Royal Bank Of Canada reduced their target price on Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, June 8th. Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Three equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat.com, Equinox Gold presently has a consensus rating of “Buy” and an average price target of $14.00.

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.