Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Has Consensus Target Price of $14.00

Key Points

• Analysts remain bullish on Equinox Gold: Eight brokerages give the stock a consensus “Buy” rating, with six buys, one strong buy and one hold. The average 12-month price target is $14.00.
• Shares opened at $11.23, below their 50-day and 200-day moving averages, while trading within a 12-month range of $8.48 to $18.96. Equinox Gold reported quarterly EPS of $0.16, slightly below estimates, although revenue rose 60.8% year over year.
• The company increased its quarterly dividend to $0.0225 per share, representing an annualized dividend of $0.09 and a 0.8% yield. Institutional investors and hedge funds collectively own 38.85% of the stock.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) has been assigned an average recommendation of "Buy" from the eight brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.00.

EQX has been the subject of a number of recent research reports. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Equinox Gold in a research note on Thursday, July 16th. TD Securities reissued a "buy" rating on shares of Equinox Gold in a report on Thursday, September 17th. Scotiabank reiterated an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. The Goldman Sachs Group upgraded Equinox Gold from a "buy" rating to a "buy" rating in a research report on Monday, June 8th. Finally, Zacks Research lowered Equinox Gold from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st.

Equinox Gold Price Performance

NYSEAMERICAN EQX opened at $11.23 on Tuesday. The stock has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $12.02. Equinox Gold has a twelve month low of $8.48 and a twelve month high of $18.96. The stock has a market capitalization of $13.11 billion, a PE ratio of 11.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.33.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS 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 the consensus estimate of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The business's quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. Research analysts anticipate that Equinox Gold will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.0225 per share. This is a boost from Equinox Gold's previous quarterly dividend of $0.0150. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.09 annualized dividend and a yield of 0.8%. Equinox Gold's payout ratio is presently 16.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in Equinox Gold by 96.7% in the 1st 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. Purpose Unlimited Inc. bought a new stake in shares of Equinox Gold during the fourth quarter worth $42,000. CX Institutional acquired a new position in shares of Equinox Gold during the third quarter worth $64,000. Continuum Advisory LLC bought a new position in shares of Equinox Gold in the 2nd quarter valued at $93,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Equinox Gold during the 2nd quarter valued at $100,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Company Profile

Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.

Equinox Gold's portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.

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