Wealth Enhancement Advisory Services LLC Takes Position in Equinox Gold Corp. $EQX

Wealth Enhancement Advisory Services LLC acquired a new position in Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 79,057 shares of the company’s stock, valued at approximately $1,146,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Equinox Gold by 91.3% in the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after buying an additional 45,820,861 shares in the last quarter. Vanguard Group Inc. increased its position in Equinox Gold by 3.1% during the third quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock worth $307,659,000 after buying an additional 822,981 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in shares of Equinox Gold by 11.1% in the second quarter. Donald Smith & CO. Inc. now owns 26,507,615 shares of the company’s stock worth $152,419,000 after acquiring an additional 2,643,856 shares during the last quarter. L1 Capital Pty Ltd lifted its position in shares of Equinox Gold by 120.4% in the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock valued at $137,476,000 after acquiring an additional 13,060,846 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its position in shares of Equinox Gold by 16.3% in the third quarter. Maple Rock Capital Partners Inc. now owns 16,644,848 shares of the company’s stock valued at $186,664,000 after acquiring an additional 2,336,100 shares in the last quarter. 38.85% of the stock is currently owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

EQX stock opened at $14.59 on Monday. The company has a market cap of $11.51 billion, a PE ratio of 60.79 and a beta of 1.33. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average price of $15.42 and a two-hundred day moving average price of $13.76. Equinox Gold Corp. has a 12-month low of $5.59 and a 12-month high of $18.96.

Equinox Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were issued a $0.015 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.06 annualized dividend and a yield of 0.4%. Equinox Gold’s dividend payout ratio (DPR) is presently 11.11%.

Wall Street Analysts Forecast Growth

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

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.