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

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have earned an average recommendation of “Buy” from the nine brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $13.00.

Several equities analysts recently issued reports on EQX shares. Royal Bank Of Canada cut their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. 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 downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th.

Equinox Gold Stock Performance

Equinox Gold stock opened at $8.96 on Thursday. Equinox Gold has a fifty-two week low of $6.01 and a fifty-two week high of $18.96. The company has a market capitalization of $7.07 billion, a PE ratio of 11.20 and a beta of 1.26. The company has a 50 day moving average price of $10.37 and a 200-day moving average price of $13.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The firm had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Equinox Gold’s quarterly revenue was up 224.3% compared to the same quarter last year. As a group, equities analysts forecast that Equinox Gold will post 1.12 earnings per share for the current year.

Equinox Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were paid 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 payout ratio is 11.11%.

Hedge Funds Weigh In On Equinox Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Equinox Gold by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock valued at $431,665,000 after purchasing an additional 3,250,135 shares during the last quarter. FIL Ltd acquired a new position in Equinox Gold during the 4th quarter valued at about $332,888,000. Maple Rock Capital Partners Inc. raised its stake in Equinox Gold by 21.6% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock valued at $284,152,000 after buying an additional 3,589,200 shares during the last quarter. L1 Capital Pty Ltd boosted its holdings in Equinox Gold by 15.9% in the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock worth $283,110,000 after acquiring an additional 2,768,141 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Equinox Gold by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock worth $174,928,000 after acquiring an additional 603,803 shares during the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

About Equinox Gold

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.