Korea Investment CORP Buys New Shares in Equinox Gold Corp. $EQX

Korea Investment CORP purchased a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 187,214 shares of the company’s stock, valued at approximately $1,824,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Equinox Gold by 232.7% during the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock valued at $3,843,000 after buying an additional 390,690 shares during the last quarter. Millennium Management LLC acquired a new stake in Equinox Gold during the first quarter worth about $6,883,000. Goldman Sachs Group Inc. increased its stake in Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock valued at $12,812,000 after acquiring an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Equinox Gold by 164.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock valued at $5,367,000 after acquiring an additional 485,567 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Equinox Gold by 77.5% in the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock valued at $2,067,000 after acquiring an additional 155,460 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Equinox Gold Trading Up 1.7%

Shares of Equinox Gold stock opened at $13.76 on Tuesday. Equinox Gold Corp. has a 12-month low of $8.06 and a 12-month high of $18.96. The stock has a market capitalization of $16.06 billion, a P/E ratio of 13.76 and a beta of 1.27. The company has a 50-day simple moving average of $10.26 and a 200 day simple moving average of $12.87. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS 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%. Equinox Gold’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. Research analysts expect that Equinox Gold Corp. will post 1.1 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

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

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.