Muhlenkamp & Co. Inc. Takes $5.08 Million Position in Equinox Gold Corp. $EQX

Muhlenkamp & Co. Inc. bought a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 522,251 shares of the company’s stock, valued at approximately $5,076,000. Equinox Gold comprises approximately 1.5% of Muhlenkamp & Co. Inc.’s portfolio, making the stock its 22nd biggest position.

Several other large investors have also made changes to their positions in EQX. Mcguire Capital Advisors Inc. acquired a new position in shares of Equinox Gold in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after buying an additional 982 shares during the period. Quarry LP raised its stake in Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after buying an additional 2,098 shares during the period. Banque Cantonale Vaudoise bought a new position in Equinox Gold during the fourth quarter worth about $39,000. Finally, Purpose Unlimited Inc. bought a new position in Equinox Gold during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $12.99 on Friday. Equinox Gold Corp. has a twelve month low of $8.24 and a twelve month high of $18.96. The company has a market cap of $15.17 billion, a PE ratio of 12.99 and a beta of 1.27. The business’s 50 day moving average price is $10.47 and its two-hundred day moving average price is $12.86. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results 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 business had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s revenue was up 60.8% compared to the same quarter last year. On average, analysts predict that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, August 19th. Equinox Gold’s dividend payout ratio (DPR) is presently 16.67%.

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.