Healthcare of Ontario Pension Plan Trust Fund Buys 151,280 Shares of Equinox Gold Corp. $EQX

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Equinox Gold stake by 26.1%, buying 151,280 shares to own 729,972 shares, or 0.09% of the company. Institutional investors collectively own 38.85% of the stock.
• Equinox Gold reported quarterly revenue of $861.59 million, up 224.3% year over year, though earnings of $0.28 per share narrowly missed estimates and revenue fell short of consensus expectations.
• Analysts maintain a generally positive view, with the stock carrying a consensus “Buy” rating and a $13.00 target price versus its reported $9.15 share price; the company also pays a $0.015 quarterly dividend.

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) by 26.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 729,972 shares of the company's stock after purchasing an additional 151,280 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Equinox Gold worth $10,550,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold during the 4th quarter worth about $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Equinox Gold during the fourth quarter valued at about $28,000. Quarry LP lifted its stake in shares of Equinox Gold by 329.9% in the fourth quarter. Quarry LP now owns 2,734 shares of the company's stock valued at $38,000 after buying an additional 2,098 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of Equinox Gold in the fourth quarter valued at about $39,000. Finally, Purpose Unlimited Inc. acquired a new stake in Equinox Gold during the fourth quarter worth about $42,000. 38.85% of the stock is owned by institutional investors.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $9.15 on Wednesday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 11.44 and a beta of 1.26. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. Equinox Gold Corp. has a 1 year low of $6.01 and a 1 year high of $18.96. The firm has a 50 day moving average of $10.43 and a 200-day moving average of $13.40.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The business had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. During the same quarter last year, the company earned ($0.08) earnings per share. The firm's revenue was up 224.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinox Gold Corp. will post 1.12 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Equinox Gold's dividend payout ratio is presently 11.11%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upgraded Equinox Gold from a "buy" rating to a "buy" rating in a research note 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 Equinox Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada cut their target price on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average 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.

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