OneDigital Investment Advisors LLC Acquires Shares of 60,024 Equinox Gold Corp. $EQX

OneDigital Investment Advisors LLC acquired a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 60,024 shares of the company’s stock, valued at approximately $583,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mcguire Capital Advisors Inc. bought a new stake in shares of Equinox Gold during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its position in Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after acquiring an additional 982 shares during the last quarter. Quarry LP boosted its holdings in shares of Equinox Gold by 329.9% during the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after acquiring an additional 2,098 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Equinox Gold in the fourth quarter valued at approximately $39,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of Equinox Gold in the fourth quarter valued at approximately $42,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

Equinox Gold stock opened at $11.45 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The stock has a market cap of $13.37 billion, a PE ratio of 11.45 and a beta of 1.27. Equinox Gold Corp. has a 12-month low of $7.54 and a 12-month high of $18.96. The business’s 50-day moving average price is $10.04 and its two-hundred day moving average price is $12.92.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The firm had revenue of $769.80 million during the quarter, compared to analyst estimates of $775.79 million. During the same period in the previous year, the company earned $0.11 EPS. Equinox Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, analysts expect that Equinox Gold Corp. will post 1.12 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 0.8%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, August 19th. Equinox Gold’s payout ratio is presently 11.11%.

Analyst Upgrades and Downgrades

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

Equinox Gold 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.