Jupiter Topco LLC Invests $6.45 Million in Equinox Gold Corp. $EQX

Jupiter Topco LLC purchased a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 662,677 shares of the company’s stock, valued at approximately $6,450,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Equinox Gold by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock valued at $431,665,000 after purchasing an additional 3,250,135 shares during the period. PKO Investment Management Joint Stock Co lifted its stake in shares of Equinox Gold by 41.3% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 342,387 shares of the company’s stock valued at $4,821,000 after purchasing an additional 100,000 shares during the last quarter. Bard Associates Inc. purchased a new position in shares of Equinox Gold during the 2nd quarter worth $3,763,000. Euro Pacific Asset Management LLC grew its holdings in shares of Equinox Gold by 20.2% during the 1st quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock worth $32,596,000 after purchasing an additional 385,638 shares during the period. Finally, Amundi grew its holdings in shares of Equinox Gold by 14.1% during the 1st quarter. Amundi now owns 4,239,964 shares of the company’s stock worth $61,310,000 after purchasing an additional 523,741 shares during the period. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Performance

EQX opened at $12.99 on Monday. Equinox Gold Corp. has a 52 week low of $8.24 and a 52 week high of $18.96. The business has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $12.84. The firm has a market cap of $15.17 billion, a P/E ratio of 12.99 and a beta of 1.27. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, equities analysts expect that Equinox Gold Corp. will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank Of Canada reduced their price objective 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. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus price target of $13.00.

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.