Brokerages Set Equinox Gold Corp. (NYSEAMERICAN:EQX) Price Target at $17.00

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.00.

A number of analysts have weighed in on EQX shares. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Stifel Nicolaus started coverage on Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd.

Equinox Gold Stock Up 2.0%

Shares of NYSEAMERICAN EQX opened at $18.76 on Monday. The stock has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $12.68. Equinox Gold has a 12 month low of $5.59 and a 12 month high of $18.96. The company has a current ratio of 1.56, a quick ratio of 1.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 78.17 and a beta of 1.24.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Thursday, March 12th.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Equinox Gold by 232.7% during the first quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock valued at $3,843,000 after acquiring an additional 390,690 shares during the last quarter. Millennium Management LLC acquired a new stake in Equinox Gold in the first quarter valued at $6,883,000. Goldman Sachs Group Inc. raised its position in Equinox Gold by 35.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after purchasing an additional 490,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Equinox Gold by 164.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 780,141 shares of the company’s stock worth $5,367,000 after buying an additional 485,567 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Equinox Gold during the 2nd quarter worth about $573,000. 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.