Royal Bank of Canada Cuts Stock Holdings in Equinox Gold Corp. $EQX

Royal Bank of Canada decreased its position in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 3.9% in the first quarter, Holdings Channel reports. The institutional investor owned 3,875,807 shares of the company’s stock after selling 158,487 shares during the period. Royal Bank of Canada’s holdings in Equinox Gold were worth $56,045,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. TT International Asset Management LTD acquired a new position in shares of Equinox Gold during the 4th quarter worth about $24,061,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Equinox Gold by 21.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,142,985 shares of the company’s stock valued at $16,064,000 after purchasing an additional 201,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Equinox Gold during the 4th quarter worth $1,146,000. Massachusetts Financial Services Co. MA purchased a new position in Equinox Gold during the fourth quarter worth about $30,375,000. Finally, Vanguard Group Inc. raised its position 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 valued at $431,665,000 after buying an additional 3,250,135 shares during the period. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on EQX. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Finally, Royal Bank Of Canada lowered their price objective on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $13.00.

Equinox Gold Stock Performance

Shares of EQX opened at $8.95 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 debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The company’s fifty day moving average is $10.24 and its two-hundred day moving average is $13.30. The stock has a market capitalization of $7.06 billion, a P/E ratio of 11.19 and a beta of 1.26.

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

Equinox Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s dividend payout ratio (DPR) is currently 11.11%.

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.