Gabelli Funds LLC Sells 201,200 Shares of Equinox Gold Corp. $EQX

Gabelli Funds LLC lowered its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 8.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,304,955 shares of the company’s stock after selling 201,200 shares during the period. Gabelli Funds LLC’s holdings in Equinox Gold were worth $33,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. acquired a new stake in Equinox Gold in the fourth quarter valued at approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Equinox Gold during the 4th quarter worth $28,000. Quarry LP increased its stake in shares of Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after purchasing an additional 2,098 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Equinox Gold during the 4th quarter worth $39,000. Finally, Purpose Unlimited Inc. bought a new position in shares of Equinox Gold during the 4th quarter valued at $42,000. Institutional investors own 38.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research 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 for the company in a research note on Thursday, July 9th. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Finally, Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $13.00.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $9.28 on Friday. Equinox Gold Corp. has a 1 year low of $6.01 and a 1 year high of $18.96. The company has a fifty day simple moving average of $10.56 and a 200 day simple moving average of $13.48. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.32 billion, a P/E ratio of 11.60 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue was up 224.3% on a year-over-year basis. On average, sell-side analysts predict that Equinox Gold Corp. will post 1.12 EPS for the current year.

Equinox Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s 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.