Brown Shipley& Co Ltd Has $31,000 Stake in Equinox Gold Corp. $EQX

Brown Shipley& Co Ltd reduced its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 94.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,190 shares of the company’s stock after selling 55,460 shares during the period. Brown Shipley& Co Ltd’s holdings in Equinox Gold were worth $31,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. FIL Ltd acquired a new position in Equinox Gold in the fourth quarter valued at about $332,888,000. Norges Bank acquired a new position in shares of Equinox Gold during the 4th quarter worth about $141,388,000. Boston Partners acquired a new position in shares of Equinox Gold during the 4th quarter worth about $75,290,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Equinox Gold in the 4th quarter valued at about $55,875,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Equinox Gold by 163.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 5,946,309 shares of the company’s stock valued at $83,576,000 after acquiring an additional 3,688,805 shares during the last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $11.53 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm’s fifty day moving average price is $9.99 and its two-hundred day moving average price is $13.06. Equinox Gold Corp. has a 1 year low of $6.78 and a 1 year high of $18.96. The firm has a market capitalization of $13.46 billion, a P/E ratio of 11.53 and a beta of 1.27.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.0225 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s dividend payout ratio (DPR) is presently 11.11%.

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.