Maverick Capital Ltd. Invests $1 Million in Equinox Gold Corp. $EQX

Maverick Capital Ltd. bought a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 69,510 shares of the company’s stock, valued at approximately $1,004,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. TT International Asset Management LTD purchased a new stake in Equinox Gold during the fourth quarter worth about $24,061,000. Euro Pacific Asset Management LLC boosted its stake in Equinox Gold by 8.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 1,906,970 shares of the company’s stock valued at $26,173,000 after acquiring an additional 145,541 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Equinox Gold by 21.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,142,985 shares of the company’s stock valued at $16,064,000 after acquiring an additional 201,000 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Equinox Gold during the 4th quarter valued at approximately $1,146,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Equinox Gold during the 4th quarter worth approximately $30,375,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

EQX opened at $9.15 on Wednesday. The firm has a 50-day moving average price of $10.43 and a 200-day moving average price of $13.40. Equinox Gold Corp. has a twelve month low of $6.01 and a twelve month high of $18.96. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 11.44 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data 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 business had revenue of $861.59 million during the quarter, compared to the consensus estimate of $896.94 million. During the same period last year, the business posted ($0.08) earnings per share. The firm’s quarterly revenue was up 224.3% on a year-over-year basis. Equities analysts expect that Equinox Gold Corp. will post 1.12 EPS for the current year.

Equinox Gold Announces Dividend

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

Analyst Ratings Changes

EQX has been the topic of a number of research reports. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. 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 report on Thursday, July 9th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.00.

Equinox Gold Company 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.