Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Rated “Buy” by Wall Street Brokerages

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have earned a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.00.

A number of brokerages have recently weighed in on EQX. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a report on Thursday, September 17th. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price objective on Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 7th.

Equinox Gold Trading Up 2.7%

Shares of NYSEAMERICAN EQX opened at $11.42 on Tuesday. 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 capitalization of $13.33 billion, a P/E ratio of 11.42 and a beta of 1.32. Equinox Gold has a 52-week low of $8.48 and a 52-week high of $18.96. The stock’s 50 day moving average price is $11.96 and its two-hundred day moving average price is $11.98.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data 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 net margin of 26.30% and a return on equity of 10.91%. The company had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, analysts anticipate that Equinox Gold will post 1.10 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 annualized dividend and a yield of 0.8%. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.

Hedge Funds Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amundi lifted its holdings in Equinox Gold by 25.2% in the second quarter. Amundi now owns 5,307,103 shares of the company’s stock valued at $51,585,000 after buying an additional 1,067,139 shares during the period. Bard Associates Inc. bought a new position in Equinox Gold in the second quarter valued at approximately $3,763,000. Van ECK Associates Corp boosted its stake in Equinox Gold by 2.8% in the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock valued at $849,875,000 after acquiring an additional 2,355,044 shares during the last quarter. BlackRock Inc. bought a new position in Equinox Gold in the second quarter valued at approximately $6,158,000. Finally, Euro Pacific Asset Management LLC grew its holdings in Equinox Gold by 20.2% during the 1st quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock worth $32,596,000 after acquiring an additional 385,638 shares during the period. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Company Profile

Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.

Equinox Gold’s portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.