Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives $13.00 Average Price Target from Brokerages

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.00.

Several research analysts have commented on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a report on Thursday, July 16th. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Securities reissued a “buy” rating on shares of Equinox Gold in a research note on Thursday. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd increased its position in Equinox Gold by 45.4% in the second quarter. WINTON GROUP Ltd now owns 637,500 shares of the company’s stock worth $6,196,000 after purchasing an additional 199,050 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Equinox Gold during the second quarter valued at $112,000. Baird Financial Group Inc. lifted its position in Equinox Gold by 37.1% during the second quarter. Baird Financial Group Inc. now owns 32,049 shares of the company’s stock valued at $312,000 after purchasing an additional 8,665 shares during the last quarter. Nykredit A S purchased a new position in shares of Equinox Gold in the 2nd quarter worth $403,000. Finally, Amundi grew its stake in shares of Equinox Gold by 25.2% in the 2nd quarter. Amundi now owns 5,307,103 shares of the company’s stock worth $51,585,000 after buying an additional 1,067,139 shares in the last quarter. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Price Performance

EQX stock opened at $12.22 on Friday. Equinox Gold has a one year low of $8.48 and a one year high of $18.96. The company’s fifty day moving average price is $11.20 and its 200-day moving average price is $12.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33. The company has a market capitalization of $14.27 billion, a PE ratio of 12.22 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company 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%.Equinox Gold’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 EPS. On average, equities analysts anticipate that Equinox Gold will post 1.1 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.0225 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s dividend payout ratio is currently 16.67%.

About Equinox Gold

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold’s assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.