Equinox Gold Corp. $EQX Stock: Pictet Asset Management Holding SA Grows Holdings

Pictet Asset Management Holding SA raised its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,175 shares of the company’s stock after acquiring an additional 108,038 shares during the period. Pictet Asset Management Holding SA’s holdings in Equinox Gold were worth $4,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in Equinox Gold by 1,378.6% during the 3rd quarter. Parallel Advisors LLC now owns 11,563 shares of the company’s stock worth $128,000 after buying an additional 10,781 shares during the last quarter. International Assets Investment Management LLC increased its position in Equinox Gold by 27.2% during the third quarter. International Assets Investment Management LLC now owns 13,769 shares of the company’s stock worth $149,000 after buying an additional 2,948 shares during the period. Kestra Advisory Services LLC purchased a new stake in Equinox Gold in the third quarter valued at approximately $154,000. Compass Financial Management LLC purchased a new stake in Equinox Gold in the third quarter valued at approximately $866,000. Finally, XML Financial LLC purchased a new stake in Equinox Gold in the third quarter valued at approximately $243,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Performance

Shares of EQX stock traded down $0.03 during mid-day trading on Friday, hitting $10.31. The stock had a trading volume of 6,895,452 shares, compared to its average volume of 13,459,002. The firm has a market cap of $12.05 billion, a PE ratio of 10.85 and a beta of 1.33. The company’s 50-day simple moving average is $11.27 and its 200-day simple moving average is $12.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.93 and a quick ratio of 0.77. Equinox Gold Corp. has a fifty-two week low of $8.48 and a fifty-two week high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $987.04 million. Equinox Gold had a net margin of 23.83% and a return on equity of 9.95%. Sell-side analysts anticipate that Equinox Gold Corp. will post 0.95 earnings per share for the current year.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Equinox Gold’s payout ratio is currently 16.67%.

Wall Street Analyst Weigh In

EQX has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a research report on Thursday, September 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Friday, October 16th. Finally, Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.00.

About Equinox Gold

Equinox Gold is a Canadian gold mining company focused on the acquisition, exploration, development and operation of gold properties. Its business includes producing and selling gold as well as advancing projects intended to support future production. The company’s activities span the Americas, where it operates mines and develops mineral projects. Equinox Gold was formed in 2017 and expanded through acquisitions, including its 2020 merger with Leagold Mining. Based in Vancouver, British Columbia, Equinox Gold focuses primarily on gold and related exploration and development work.