Equinox Gold (NYSEAMERICAN:EQX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Several other analysts have also commented on EQX. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Royal Bank Of Canada cut their price objective on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Three analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, Equinox Gold has a consensus rating of “Buy” and an average price target of $14.00.

Equinox Gold Trading Down 4.7%

Shares of NYSEAMERICAN EQX opened at $9.77 on Monday. Equinox Gold has a 1-year low of $5.61 and a 1-year high of $18.96. The business has a fifty day moving average price of $12.85 and a 200 day moving average price of $14.24. The stock has a market capitalization of $7.71 billion, a P/E ratio of 12.21 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 0.75.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. During the same quarter last year, the firm earned ($0.08) EPS. Equinox Gold’s revenue for the quarter was up 224.3% on a year-over-year basis. Equities research analysts expect that Equinox Gold will post 1.27 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were given a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. Equinox Gold’s dividend payout ratio (DPR) is presently 11.11%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC purchased a new stake in Equinox Gold during the 3rd quarter valued at about $1,111,000. Vanguard Group Inc. raised its stake in shares of Equinox Gold by 3.1% in the third quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock worth $307,659,000 after purchasing an additional 822,981 shares during the last quarter. Gemsstock Ltd. raised its stake in shares of Equinox Gold by 2.2% in the third quarter. Gemsstock Ltd. now owns 5,442,905 shares of the company’s stock worth $61,069,000 after purchasing an additional 118,428 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its holdings in shares of Equinox Gold by 717.8% during the third quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock worth $39,564,000 after purchasing an additional 3,094,966 shares during the period. Finally, Euro Pacific Asset Management LLC lifted its holdings in shares of Equinox Gold by 8.3% during the fourth quarter. Euro Pacific Asset Management LLC now owns 1,906,970 shares of the company’s stock worth $26,173,000 after purchasing an additional 145,541 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

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.