47,664 Shares in Equinox Gold Corp. $EQX Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC acquired a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, Holdings Channel.com reports. The firm acquired 47,664 shares of the company’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 3,250,135 shares during the last quarter. PKO Investment Management Joint Stock Co raised its stake in shares of Equinox Gold by 41.3% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 342,387 shares of the company’s stock worth $4,821,000 after purchasing an additional 100,000 shares during the last quarter. Bard Associates Inc. purchased a new stake in shares of Equinox Gold in the second quarter worth approximately $3,763,000. Euro Pacific Asset Management LLC lifted its holdings in shares of Equinox Gold by 20.2% in the first quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock valued at $32,596,000 after purchasing an additional 385,638 shares in the last quarter. Finally, Amundi boosted its position in shares of Equinox Gold by 14.1% during the first quarter. Amundi now owns 4,239,964 shares of the company’s stock valued at $61,310,000 after buying an additional 523,741 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EQX shares. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada cut their price objective 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. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. One research 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 MarketBeat.com, Equinox Gold currently has an average rating of “Buy” and a consensus target price of $13.00.

Equinox Gold Price Performance

EQX opened at $12.99 on Friday. Equinox Gold Corp. has a fifty-two week low of $8.24 and a fifty-two week high of $18.96. The firm has a 50-day moving average of $10.47 and a 200 day moving average of $12.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. The firm has a market cap of $15.17 billion, a P/E ratio of 12.99 and a beta of 1.27.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The company had revenue of $769.80 million during the quarter, compared to the consensus estimate of $775.79 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue was up 60.8% on a year-over-year basis. On average, research analysts expect that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.0225 dividend. The ex-dividend date 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 yield of 0.7%. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.

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.