Equinox Gold (NYSEAMERICAN:EQX) Stock Price Up 8.7% – Should You Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price shot up 8.7% during mid-day trading on Wednesday . The stock traded as high as $12.31 and last traded at $12.4490. 2,632,715 shares were traded during trading, a decline of 77% from the average daily volume of 11,524,569 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EQX shares. 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 cut their price target on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.00.

Equinox Gold Stock Up 9.7%

The firm’s fifty day moving average price is $10.04 and its 200-day moving average price is $12.92. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 12.59 and a beta of 1.27. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $769.80 million for the quarter, compared to analyst estimates 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 for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. Sell-side analysts predict that Equinox Gold Corp. will post 1.12 earnings per share for the current year.

Equinox Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s dividend payout ratio is 11.11%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EQX. Mcguire Capital Advisors Inc. acquired a new position in Equinox Gold during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after acquiring an additional 982 shares during the period. Quarry LP boosted its stake in shares of Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after acquiring an additional 2,098 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Equinox Gold during the 4th quarter worth approximately $39,000. Finally, Purpose Unlimited Inc. acquired a new position in shares of Equinox Gold during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.