Equinox Gold (NYSEAMERICAN:EQX) Shares Up 5.5% – What’s Next?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s stock price rose 5.5% during trading on Friday . The stock traded as high as $9.97 and last traded at $9.9310. Approximately 1,872,939 shares were traded during trading, a decline of 83% from the average daily volume of 10,813,471 shares. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EQX shares. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Zacks Research raised shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Royal Bank Of Canada dropped their price objective on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, Equinox Gold has a consensus rating of “Buy” and a consensus target price of $14.00.

Equinox Gold Trading Up 5.2%

The company has a 50 day simple moving average of $12.61 and a 200 day simple moving average of $14.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market capitalization of $7.81 billion, a PE ratio of 12.43 and a beta of 1.18.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The business had revenue of $861.59 million for the quarter, compared to analyst estimates of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. Analysts anticipate that Equinox Gold Corp. will post 1.27 earnings per share for the current year.

Equinox Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.015 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.6%. Equinox Gold’s dividend payout ratio is currently 11.11%.

Institutional Investors Weigh In On Equinox Gold

A number of institutional investors have recently made changes to their positions in the stock. Integrated Advisors Network LLC acquired a new position in Equinox Gold during the third quarter worth $1,111,000. Vanguard Group Inc. grew its position in Equinox Gold by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock valued at $307,659,000 after acquiring an additional 822,981 shares in the last quarter. Gemsstock Ltd. increased its stake in Equinox Gold by 2.2% during the third quarter. Gemsstock Ltd. now owns 5,442,905 shares of the company’s stock worth $61,069,000 after purchasing an additional 118,428 shares during the period. Euro Pacific Asset Management LLC lifted its position 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 worth $26,173,000 after purchasing an additional 145,541 shares in the last quarter. Finally, TT International Asset Management LTD purchased a new position in shares of Equinox Gold in the fourth quarter valued at approximately $24,061,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.