Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives Consensus Recommendation of “Buy” from Analysts

Equinox Gold Corp. (NYSEAMERICAN:EQX) has earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.00.

A number of equities analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada lowered their price objective on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th.

Institutional Trading of Equinox Gold

A number of large investors have recently bought and sold shares of the company. FIL Ltd purchased a new stake in Equinox Gold during the fourth quarter valued at about $332,888,000. Norges Bank bought a new position in Equinox Gold during the fourth quarter worth about $141,388,000. Deutsche Bank AG purchased a new position in shares of Equinox Gold in the second quarter worth about $82,981,000. Boston Partners purchased a new position in shares of Equinox Gold in the fourth quarter worth about $75,290,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Equinox Gold in the second quarter valued at approximately $40,220,000. 38.85% of the stock is owned by hedge funds and other institutional investors.

Equinox Gold Stock Performance

EQX stock opened at $12.20 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The firm has a market cap of $14.24 billion, a PE ratio of 12.20 and a beta of 1.32. The business has a 50 day moving average of $10.99 and a 200-day moving average of $12.63. Equinox Gold has a 12-month low of $8.48 and a 12-month high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $769.80 million during the quarter, compared to analysts’ expectations of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS. As a group, sell-side analysts expect that Equinox Gold will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.7%. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.

Equinox Gold Company Profile

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.