The Manufacturers Life Insurance Company Sells 322,848 Shares of Equinox Gold Corp. $EQX

The Manufacturers Life Insurance Company lessened its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,623,461 shares of the company’s stock after selling 322,848 shares during the period. The Manufacturers Life Insurance Company’s holdings in Equinox Gold were worth $81,181,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold during the fourth quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new stake in shares of Equinox Gold during the 4th quarter worth approximately $28,000. Quarry LP boosted its holdings in Equinox Gold by 329.9% during 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 period. Banque Cantonale Vaudoise purchased a new position in Equinox Gold during the 4th quarter valued at $39,000. Finally, Purpose Unlimited Inc. bought a new position in Equinox Gold in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EQX. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada cut their price target on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $13.00.

Equinox Gold Stock Down 2.1%

Shares of NYSEAMERICAN EQX opened at $8.96 on Thursday. Equinox Gold Corp. has a 52-week low of $6.01 and a 52-week high of $18.96. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 11.20 and a beta of 1.26. The stock has a 50 day moving average price of $10.37 and a 200 day moving average price of $13.36. 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 released 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 firm had revenue of $861.59 million for 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 company’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Sell-side analysts expect that Equinox Gold Corp. will post 1.12 earnings per share for the current year.

Equinox Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.015 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.7%. Equinox Gold’s dividend payout ratio (DPR) 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.