CIBC Asset Management Inc Acquires 52,743 Shares of Equinox Gold Corp. $EQX

CIBC Asset Management Inc lifted its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 7.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 778,148 shares of the company’s stock after acquiring an additional 52,743 shares during the quarter. CIBC Asset Management Inc owned 0.10% of Equinox Gold worth $10,943,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in Equinox Gold during the 4th quarter valued at $28,000. Lodestone Wealth Management LLC bought a new stake in Equinox Gold during the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB bought a new stake in Equinox Gold during the 4th quarter valued at $37,000. Banque Cantonale Vaudoise bought a new stake in Equinox Gold during the 4th quarter valued at $39,000. Finally, Smithfield Trust Co bought a new stake in Equinox Gold during the 3rd quarter valued at $43,000. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Trading Down 6.2%

NYSEAMERICAN:EQX opened at $10.79 on Friday. The company has a fifty day moving average of $13.73 and a 200 day moving average of $14.44. Equinox Gold Corp. has a 52 week low of $5.61 and a 52 week high of $18.96. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.51 billion, a P/E ratio of 13.49 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, research 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 disclosed 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

EQX has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report 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 assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $17.00.

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.