168,714 Equinox Gold Corp. $EQX Shares Acquired by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC raised its position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 1,673.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 178,797 shares of the company’s stock after purchasing an additional 168,714 shares during the quarter. McAlvany Wealth Management LLC’s holdings in Equinox Gold were worth $1,986,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EQX. Van ECK Associates Corp lifted its position in shares of Equinox Gold by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock worth $849,875,000 after purchasing an additional 2,355,044 shares during the period. Deutsche Bank AG bought a new stake in shares of Equinox Gold in the 2nd quarter valued at $82,981,000. Amundi boosted its stake in shares of Equinox Gold by 25.2% in the 2nd quarter. Amundi now owns 5,307,103 shares of the company’s stock valued at $51,585,000 after purchasing an additional 1,067,139 shares during the last quarter. Euro Pacific Asset Management LLC boosted its stake in shares of Equinox Gold by 66.9% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 4,181,021 shares of the company’s stock valued at $46,451,000 after purchasing an additional 1,676,488 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Equinox Gold during the second quarter worth $40,220,000. Institutional investors own 38.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EQX. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, October 16th. Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th. Royal Bank Of Canada upped their price target on shares of Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Zacks Research downgraded Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $10.08 on Tuesday. The firm’s 50-day moving average price is $11.66 and its 200-day moving average price is $12.75. Equinox Gold Corp. has a 1-year low of $8.48 and a 1-year high of $18.96. The firm has a market capitalization of $11.77 billion, a P/E ratio of 12.63 and a beta of 1.32. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. Equinox Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. Equities research analysts anticipate that Equinox Gold Corp. will post 1.00 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a dividend of $0.0225 per share. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.

Equinox Gold Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.