Wealth Enhancement Advisory Services LLC Makes New $1.15 Million Investment in Equinox Gold Corp. $EQX

Wealth Enhancement Advisory Services LLC bought a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) in the 4th quarter, Holdings Channel.com reports. The firm bought 79,057 shares of the company’s stock, valued at approximately $1,146,000.

Several other hedge funds have also modified their holdings of EQX. Aventura Private Wealth LLC acquired a new position in Equinox Gold during the 4th quarter worth approximately $28,000. Public Employees Retirement System of Ohio raised its stake in shares of Equinox Gold by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 233,610 shares of the company’s stock valued at $2,625,000 after purchasing an additional 2,313 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Equinox Gold during the fourth quarter worth $37,000. Creative Planning boosted its stake in shares of Equinox Gold by 8.3% in the third quarter. Creative Planning now owns 37,314 shares of the company’s stock valued at $419,000 after purchasing an additional 2,863 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Equinox Gold by 8.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 40,664 shares of the company’s stock valued at $456,000 after purchasing an additional 3,036 shares in the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EQX shares. Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Finally, Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, Equinox Gold has an average rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $14.59 on Monday. The company’s fifty day moving average is $15.42 and its two-hundred day moving average is $13.76. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. Equinox Gold Corp. has a 1-year low of $5.59 and a 1-year high of $18.96. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 60.79 and a beta of 1.33.

Equinox Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, March 12th. Equinox Gold’s payout ratio is presently 11.11%.

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.