Empowered Funds LLC Invests $1.01 Million in Equinox Gold Corp. $EQX

Empowered Funds LLC bought a new stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, HoldingsChannel reports. The fund bought 104,035 shares of the company’s stock, valued at approximately $1,011,000.

A number of other institutional investors also recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its stake in shares of Equinox Gold by 0.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock valued at $2,680,000 after acquiring an additional 795 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Equinox Gold by 3.2% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 30,247 shares of the company’s stock valued at $425,000 after purchasing an additional 940 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 982 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Equinox Gold by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,067 shares of the company’s stock worth $183,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in shares of Equinox Gold by 1.2% during the first quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock worth $1,346,000 after buying an additional 1,075 shares in the last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $12.81 on Friday. 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 Corp. has a fifty-two week low of $8.48 and a fifty-two week high of $18.96. The company has a market cap of $14.96 billion, a P/E ratio of 12.81 and a beta of 1.32. The firm’s 50 day moving average is $10.77 and its two-hundred day moving average is $12.75.

Equinox Gold (NYSEAMERICAN:EQX) last announced 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 net margin of 26.30% and a return on equity of 10.91%. The company had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. Analysts expect that Equinox Gold Corp. will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.0225 dividend. This is an increase from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Equinox Gold’s dividend payout ratio is presently 16.67%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EQX shares. Royal Bank Of Canada reduced their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a report 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, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price 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.