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

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.00.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. acquired a new position in Equinox Gold in the fourth quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new position in Equinox Gold in the fourth quarter valued at about $28,000. Lodestone Wealth Management LLC acquired a new position in Equinox Gold in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its stake in Equinox Gold by 96.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock valued at $29,000 after acquiring an additional 982 shares during the period. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in Equinox Gold in the fourth quarter valued at about $37,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Trading Up 3.2%

NYSEAMERICAN EQX opened at $9.71 on Friday. The stock has a 50-day simple moving average of $12.50 and a 200 day simple moving average of $14.14. The company has a market capitalization of $7.66 billion, a PE ratio of 12.14 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. Equinox Gold has a 12 month low of $5.61 and a 12 month high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $861.59 million during the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) EPS. Research analysts forecast that Equinox Gold will post 1.27 EPS for the current year.

Equinox Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Thursday, May 21st were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s payout ratio is presently 11.11%.

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.