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

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.00.

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada cut their price target on Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, June 8th.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $10.14 on Friday. The business has a 50-day moving average of $12.09 and a 200 day moving average of $14.02. Equinox Gold has a 12 month low of $5.70 and a 12 month high of $18.96. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 12.68 and a beta of 1.26. 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 quarterly earnings data on Wednesday, May 6th. The company reported $0.28 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 business had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. During the same period in the previous year, the business posted ($0.08) EPS. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Equinox Gold will post 1.22 earnings per share for the current year.

Equinox Gold Dividend Announcement

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

Institutional Trading of Equinox Gold

A number of large investors have recently made changes to their positions in EQX. Van ECK Associates Corp lifted its stake in Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock worth $1,077,394,000 after acquiring an additional 45,820,861 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $431,665,000 after purchasing an additional 3,250,135 shares during the last quarter. FIL Ltd purchased a new stake in shares of Equinox Gold during the 4th quarter worth $332,888,000. Maple Rock Capital Partners Inc. grew its stake in shares of Equinox Gold by 21.6% during the fourth quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock worth $284,152,000 after purchasing an additional 3,589,200 shares in the last quarter. Finally, L1 Capital Pty Ltd grew its stake in shares of Equinox Gold by 15.9% during the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock worth $283,110,000 after purchasing an additional 2,768,141 shares in the last quarter. 38.85% of the stock is currently 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.