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

Key Points

• Equinox Gold has an average analyst recommendation of Buy from eight analysts (five buy, two strong buy, one hold) with an average 12‑month target of $17.00.
• The company declared a quarterly dividend of $0.015 (annualized $0.06), implying a yield of 0.5%, with an ex‑dividend date of March 12 and payment on March 26.
• Shares opened at $12.41 and were reported down 7.5%; the stock has a market cap of $9.78 billion, a P/E of 51.71, and a 12‑month range of $5.59–$18.96.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) has earned an average recommendation of "Buy" from the eight analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.00.

A number of brokerages have recently commented 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 upgraded Equinox Gold from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Scotiabank restated an "outperform" rating on shares of Equinox Gold in a research note on Monday, January 26th. Stifel Nicolaus assumed coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a "buy" rating for the company. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Equinox Gold in a report on Tuesday, January 27th.

Equinox Gold Trading Down 7.5%

EQX opened at $12.41 on Friday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 51.71 and a beta of 1.20. Equinox Gold has a 12 month low of $5.59 and a 12 month high of $18.96. The firm's fifty day simple moving average is $15.77 and its 200 day simple moving average is $13.45. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24.

Equinox Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be paid a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, March 12th. Equinox Gold's payout ratio is presently 11.11%.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently modified their holdings of EQX. Gamco Investors INC. ET AL increased its position in shares of Equinox Gold by 0.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company's stock valued at $2,680,000 after acquiring an additional 795 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Equinox Gold by 3.2% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 30,247 shares of the company's stock valued at $425,000 after purchasing an additional 940 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Equinox Gold by 8.3% during the 4th quarter. HighTower Advisors LLC now owns 13,067 shares of the company's stock worth $183,000 after purchasing an additional 1,003 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Equinox Gold by 1.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company's stock worth $1,504,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Equinox Gold by 14.0% during the 4th quarter. Stifel Financial Corp now owns 11,598 shares of the company's stock worth $163,000 after purchasing an additional 1,427 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.