Brown Shipley& Co Ltd Makes New $844,000 Investment in Equinox Gold Corp. $EQX

Brown Shipley& Co Ltd purchased a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 58,650 shares of the company’s stock, valued at approximately $844,000. Equinox Gold makes up approximately 0.5% of Brown Shipley& Co Ltd’s portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Equinox Gold by 6.2% in the first quarter. Bank of New York Mellon Corp now owns 111,174 shares of the company’s stock worth $1,608,000 after buying an additional 6,504 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Equinox Gold during the first quarter valued at approximately $162,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Equinox Gold by 31.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 147,967 shares of the company’s stock valued at $2,140,000 after acquiring an additional 35,693 shares during the period. Integrated Advisors Network LLC lifted its position in shares of Equinox Gold by 1.2% in the 1st quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock valued at $1,346,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of Equinox Gold in the 1st quarter valued at approximately $513,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Price Performance

Shares of EQX opened at $8.75 on Friday. The business’s 50-day moving average is $11.20 and its 200-day moving average is $13.69. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 0.75. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 10.94 and a beta of 1.26. Equinox Gold Corp. has a fifty-two week low of $6.01 and a fifty-two week high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The company had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. Equities research analysts expect that Equinox Gold Corp. will post 1.24 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on EQX. Zacks Research raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Thursday. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada decreased their target price 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. Two investment analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Equinox Gold has an average rating of “Buy” and an average price target of $13.00.

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.