Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $14.00.

Several analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a report on Friday, October 16th. Royal Bank Of Canada raised their target price on Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a research note on Thursday, September 17th. Finally, Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 21st.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after buying an additional 982 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Equinox Gold by 1.2% during the 1st quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock worth $1,346,000 after acquiring an additional 1,075 shares during the last quarter. Net Worth Advisory Group grew its position in Equinox Gold by 5.4% in the third quarter. Net Worth Advisory Group now owns 21,259 shares of the company’s stock worth $230,000 after acquiring an additional 1,090 shares in the last quarter. IFP Advisors Inc grew its position in Equinox Gold by 1,427.1% in the third quarter. IFP Advisors Inc now owns 3,039 shares of the company’s stock worth $34,000 after acquiring an additional 2,840 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Equinox Gold in the third quarter valued at $35,000. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

Shares of EQX stock opened at $9.70 on Friday. Equinox Gold has a 52 week low of $8.48 and a 52 week high of $18.96. The stock has a market capitalization of $11.32 billion, a PE ratio of 9.70 and a beta of 1.32. The company has a quick ratio of 0.77, a current ratio of 1.33 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $11.73 and a two-hundred day moving average of $12.77.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%. The company had revenue of $769.80 million for the quarter, compared to analysts’ expectations of $775.79 million. During the same quarter last year, the company earned $0.11 EPS. Equinox Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, research analysts predict that Equinox Gold will post 1.00 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Equinox Gold’s previous quarterly dividend of $0.0150. Equinox Gold’s payout ratio is currently 16.67%.

Equinox Gold Company Profile

Equinox Gold Corp. is a precious metals mining company focused primarily on the acquisition, development and operation of gold mines. The company produces gold and conducts exploration and development activities intended to expand its mineral reserves and production base.

Equinox Gold’s operations and projects have been located across the Americas, including Canada, the United States, Mexico and Brazil. Its portfolio has included the Greenstone Mine in Ontario, the Mesquite and Castle Mountain projects in California, the Los Filos complex in Mexico, and the Aurizona, Fazenda and Santa Luz operations in Brazil.

The company was formed in 2017 through the merger of Trek Mining and NewCastle Gold and has since grown through acquisitions, mine development and exploration.