Gabelli Funds LLC Has $35.19 Million Stock Position in Equinox Gold Corp. $EQX

Gabelli Funds LLC reduced its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 5.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,506,155 shares of the company’s stock after selling 132,200 shares during the period. Gabelli Funds LLC’s holdings in Equinox Gold were worth $35,186,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EQX. Van ECK Associates Corp raised its stake in Equinox Gold by 91.3% during 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 period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Equinox Gold during the 3rd quarter worth approximately $40,600,000. Vanguard Group Inc. raised its stake in 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 period. Waratah Capital Advisors Ltd. raised its stake in Equinox Gold by 717.8% during 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 period. Finally, The Manufacturers Life Insurance Company raised its stake in Equinox Gold by 795.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,840,270 shares of the company’s stock worth $16,248,000 after buying an additional 2,523,122 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on EQX shares. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. BMO Capital Markets reissued an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $13.23 on Monday. The company has a market cap of $10.44 billion, a PE ratio of 16.54 and a beta of 1.21. Equinox Gold Corp. has a 52 week low of $5.61 and a 52 week high of $18.96. The business has a 50 day moving average price of $14.43 and a 200-day moving average price of $14.40. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company 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%.The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. Equities analysts anticipate that Equinox Gold Corp. will post 1.24 earnings per share for the current fiscal year.

Equinox Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 21st will be issued a $0.015 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. Equinox Gold’s dividend payout ratio is currently 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.