2,549,670 Shares in Equinox Gold Corp. $EQX Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,549,670 shares of the company’s stock, valued at approximately $24,802,000.

Several other hedge funds have also bought and sold shares of the stock. Mcguire Capital Advisors Inc. purchased a new position in shares of Equinox Gold during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Equinox Gold by 96.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after buying an additional 982 shares in the last quarter. Quarry LP lifted its position in shares of Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after buying an additional 2,098 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Equinox Gold during the fourth quarter valued at approximately $39,000. Finally, Purpose Unlimited Inc. bought a new position in Equinox Gold during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Trading Up 1.7%

NYSEAMERICAN EQX opened at $13.76 on Tuesday. The stock has a market cap of $16.06 billion, a PE ratio of 13.76 and a beta of 1.27. Equinox Gold Corp. has a 12 month low of $8.06 and a 12 month high of $18.96. The company’s 50-day moving average price is $10.26 and its 200-day moving average price is $12.87. 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 announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $769.80 million during 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%.The firm’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 forecast that Equinox Gold Corp. will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on EQX. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Zacks Research downgraded shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Royal Bank Of Canada reduced their target price 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Equinox Gold has a consensus rating of “Buy” and a consensus price target of $13.00.

Equinox Gold Company 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.