Gemsstock Ltd. Has $73.25 Million Stock Holdings in Equinox Gold Corp. $EQX

Gemsstock Ltd. reduced its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,217,177 shares of the company’s stock after selling 225,728 shares during the quarter. Equinox Gold comprises approximately 10.5% of Gemsstock Ltd.’s holdings, making the stock its biggest position. Gemsstock Ltd.’s holdings in Equinox Gold were worth $73,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of 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 acquiring an additional 45,820,861 shares during the period. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 3,250,135 shares during the period. Maple Rock Capital Partners Inc. boosted its stake in shares of Equinox Gold by 16.3% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 16,644,848 shares of the company’s stock worth $186,664,000 after acquiring an additional 2,336,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Equinox Gold by 10.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,819,778 shares of the company’s stock worth $143,841,000 after acquiring an additional 1,187,823 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Equinox Gold by 5.1% during the 4th quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock worth $174,928,000 after acquiring an additional 603,803 shares during the period. 38.85% of the stock is currently owned by institutional investors.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $10.54 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $8.32 billion, a P/E ratio of 13.18 and a beta of 1.18. Equinox Gold Corp. has a 12-month low of $5.61 and a 12-month high of $18.96. The firm has a 50-day moving average price of $13.43 and a two-hundred day moving average price of $14.37.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $861.59 million during the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. Analysts anticipate that Equinox Gold Corp. will post 1.27 earnings per share for the current year.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 21st were issued a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. Equinox Gold’s payout ratio is currently 11.11%.

Analyst Upgrades and Downgrades

EQX has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Royal Bank Of Canada reduced their target price on Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $14.00.

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.