Equinox Gold Corp. $EQX Stock Holdings Cut by Invenomic Capital Management LP

Invenomic Capital Management LP cut its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 17.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,977,210 shares of the company’s stock after selling 640,874 shares during the period. Equinox Gold comprises 1.6% of Invenomic Capital Management LP’s investment portfolio, making the stock its 14th largest position. Invenomic Capital Management LP’s holdings in Equinox Gold were worth $33,404,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smithfield Trust Co bought a new position in Equinox Gold during the third quarter valued at about $43,000. SBI Securities Co. Ltd. raised its position in Equinox Gold by 2,054.6% in the second quarter. SBI Securities Co. Ltd. now owns 4,697 shares of the company’s stock worth $27,000 after acquiring an additional 4,479 shares in the last quarter. Kercheville Advisors LLC acquired a new stake in Equinox Gold in the 3rd quarter valued at about $112,000. KW Wealth Management LLC acquired a new stake in Equinox Gold in the 3rd quarter valued at about $114,000. Finally, Heritage Family Offices LLP bought a new position in shares of Equinox Gold during the 3rd quarter valued at about $131,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Stock Performance

EQX stock opened at $14.57 on Monday. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of 60.71 and a beta of 1.20. The firm has a 50 day moving average of $15.82 and a two-hundred day moving average of $13.37. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24. Equinox Gold Corp. has a 12 month low of $5.59 and a 12 month high of $18.96.

Equinox Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a $0.015 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. Equinox Gold’s payout ratio is currently 11.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQX shares. Stifel Nicolaus assumed coverage on shares of Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research report on Tuesday, January 27th. Finally, 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 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price 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.