Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view: Eight firms give Equinox Gold a consensus “Buy” rating, including six buys and one strong buy, with an average 1-year price target of $13.00.
• Institutional ownership is significant: Institutional investors and hedge funds own 38.85% of the company, with Vanguard, Maple Rock Capital, L1 Capital and others increasing their stakes.
• Equinox Gold raised its dividend: The quarterly payout increased to $0.0225 per share, equivalent to $0.09 annually and a 0.8% yield; shares recently opened at $11.60.

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.00.

Several research firms recently issued reports on EQX. Royal Bank Of Canada decreased their target price 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. Scotiabank reaffirmed an "outperform" rating on shares of Equinox Gold in a research report on Friday, August 7th. The Goldman Sachs Group raised shares of Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Equinox Gold in a report on Thursday, July 16th. Finally, Zacks Research cut shares of Equinox Gold from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st.

Institutional Investors Weigh In On Equinox Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Equinox Gold by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company's stock valued at $431,665,000 after purchasing an additional 3,250,135 shares in the last quarter. FIL Ltd acquired a new stake in Equinox Gold during the 4th quarter worth approximately $332,888,000. Maple Rock Capital Partners Inc. raised its holdings in Equinox Gold by 21.6% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company's stock valued at $284,152,000 after buying an additional 3,589,200 shares during the period. L1 Capital Pty Ltd raised its holdings in Equinox Gold by 15.9% in the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company's stock valued at $283,110,000 after buying an additional 2,768,141 shares during the period. Finally, Franklin Resources Inc. lifted its position in Equinox Gold by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company's stock valued at $174,928,000 after buying an additional 603,803 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $11.60 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 11.60 and a beta of 1.27. The stock's 50-day moving average price is $10.00 and its two-hundred day moving average price is $12.99. Equinox Gold has a 12-month low of $7.54 and a 12-month high of $18.96.

Equinox Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.0225 dividend. The ex-dividend date is Wednesday, August 19th. This is an increase from Equinox Gold's previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. Equinox Gold's payout ratio is 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.

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