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

Equinox Gold Corp. (NYSEAMERICAN:EQX) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $17.00.

Several brokerages have recently weighed in on EQX. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd.

Equinox Gold Stock Performance

EQX opened at $12.11 on Wednesday. The business’s 50-day moving average price is $13.82 and its two-hundred day moving average price is $14.50. Equinox Gold has a 1 year low of $5.61 and a 1 year high of $18.96. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 15.14 and a beta of 1.18. 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 released its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (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 firm had revenue of $861.59 million during the quarter, compared to analyst estimates of $896.94 million. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 224.3% compared to the same quarter last year. Equities analysts expect that Equinox Gold will post 1.27 EPS for the current fiscal year.

Equinox Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.5%. Equinox Gold’s dividend payout ratio is currently 11.11%.

Hedge Funds Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Groupe la Francaise increased its holdings in Equinox Gold by 110.5% during the first quarter. Groupe la Francaise now owns 2,000,000 shares of the company’s stock worth $28,789,000 after buying an additional 1,050,000 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Equinox Gold by 25.6% in the first quarter. Janus Henderson Group PLC now owns 894,799 shares of the company’s stock valued at $12,935,000 after acquiring an additional 182,634 shares during the last quarter. Amundi grew its position in shares of Equinox Gold by 14.1% in the 1st quarter. Amundi now owns 4,239,964 shares of the company’s stock valued at $61,310,000 after acquiring an additional 523,741 shares during the period. EverSource Wealth Advisors LLC increased 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 purchasing an additional 982 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Equinox Gold during the 1st quarter worth about $1,004,000. 38.85% of the stock is owned by institutional investors.

Equinox Gold Company Profile

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.