Equinox Gold Corp. (NYSEAMERICAN:EQX) Given Average Rating of “Buy” by Brokerages

Equinox Gold Corp. (NYSEAMERICAN:EQX) has received a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $13.00.

EQX has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada lowered their price target on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th.

Institutional Investors Weigh In On Equinox Gold

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its holdings in shares of Equinox Gold by 232.7% in the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock valued at $3,843,000 after purchasing an additional 390,690 shares during the period. Millennium Management LLC purchased a new stake in Equinox Gold in the first quarter valued at approximately $6,883,000. Goldman Sachs Group Inc. increased its holdings in Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after buying an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Equinox Gold by 164.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock worth $5,367,000 after buying an additional 485,567 shares during the period. Finally, Geode Capital Management LLC raised its position in Equinox Gold by 77.5% during the 2nd quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock worth $2,067,000 after buying an additional 155,460 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $13.53 on Monday. The company has a market capitalization of $15.80 billion, a PE ratio of 13.53 and a beta of 1.27. The company has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $12.89. Equinox Gold has a one year low of $7.77 and a one year high of $18.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $769.80 million for the quarter, compared to the consensus estimate of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The company’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. Research analysts expect that Equinox Gold will post 1.12 EPS for the current fiscal year.

Equinox Gold Increases Dividend

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

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.