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

Key Points

• Equinox Gold has a consensus analyst rating of “Buy” from nine brokerages, with seven buy ratings and two strong-buy ratings. The average 1-year price target is $13.00.
• Recent analyst updates were mixed but still favorable, including CIBC reiterating outperform and RBC trimming its target from $14 to $13 while keeping an outperform rating.
• The stock was trading at $9.35 and the company recently reported quarterly EPS of $0.28, slightly below estimates, while revenue rose sharply year over year. Equinox Gold also paid a quarterly dividend of $0.015 per share, yielding about 0.6%.

Equinox Gold Corp. (NYSEAMERICAN:EQX - Get Free Report) has earned a consensus recommendation of "Buy" from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.00.

Several research firms recently weighed in on EQX. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Equinox Gold in a research note on Thursday, July 16th. Royal Bank Of Canada lowered their target price on Equinox Gold from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, July 9th. 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 raised Equinox Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 22nd.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TT International Asset Management LTD purchased a new position in Equinox Gold during the fourth quarter worth $24,061,000. Euro Pacific Asset Management LLC boosted its stake in shares of Equinox Gold by 8.3% during the fourth quarter. Euro Pacific Asset Management LLC now owns 1,906,970 shares of the company's stock valued at $26,173,000 after acquiring an additional 145,541 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Equinox Gold by 21.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,142,985 shares of the company's stock valued at $16,064,000 after acquiring an additional 201,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Equinox Gold during the fourth quarter valued at $1,146,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Equinox Gold during the 4th quarter worth about $30,375,000. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Trading Up 3.2%

Shares of EQX opened at $9.35 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average is $10.74 and its two-hundred day moving average is $13.54. Equinox Gold has a twelve month low of $6.01 and a twelve month high of $18.96. The firm has a market capitalization of $7.38 billion, a P/E ratio of 11.69 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (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 analysts' expectations of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company's quarterly revenue was up 224.3% on a year-over-year basis. During the same period last year, the business posted ($0.08) earnings per share. On average, research analysts predict that Equinox Gold will post 1.12 earnings per share for the current fiscal 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 issued a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Equinox Gold's dividend payout ratio (DPR) is 11.11%.

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.

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