Invenomic Capital Management LP Acquires 50,279 Shares of Equinox Gold Corp. $EQX

Invenomic Capital Management LP raised its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,027,489 shares of the company’s stock after purchasing an additional 50,279 shares during the quarter. Equinox Gold makes up 2.0% of Invenomic Capital Management LP’s holdings, making the stock its 9th biggest position. Invenomic Capital Management LP owned about 0.39% of Equinox Gold worth $42,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after purchasing an additional 45,820,861 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 3,250,135 shares during the last quarter. FIL Ltd bought a new stake in shares of Equinox Gold during the 4th quarter worth about $332,888,000. Maple Rock Capital Partners Inc. grew its stake in Equinox Gold by 21.6% in 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 buying an additional 3,589,200 shares during the last quarter. Finally, L1 Capital Pty Ltd grew its stake in Equinox Gold by 15.9% in the 4th quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock valued at $283,110,000 after buying an additional 2,768,141 shares during the last quarter. 38.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EQX has been the subject of several research reports. Royal Bank Of Canada cut their price objective on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, June 8th. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report 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. Finally, The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Equinox Gold has an average rating of “Buy” and an average price target of $14.00.

Equinox Gold Price Performance

NYSEAMERICAN:EQX opened at $11.03 on Thursday. Equinox Gold Corp. has a 52 week low of $5.61 and a 52 week high of $18.96. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 13.79 and a beta of 1.18. The firm’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $14.34. 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 (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, May 6th. The company reported $0.28 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 business had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 224.3% compared to the same quarter last year. As a group, 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. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s dividend payout ratio is 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.