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

Equinox Gold Corp. (NYSEAMERICAN:EQX) has received an average recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of analysts have weighed in on the company. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th.

Hedge Funds Weigh In On Equinox Gold

Several institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL increased its stake in shares of Equinox Gold by 0.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 190,855 shares of the company’s stock valued at $2,680,000 after buying an additional 795 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Equinox Gold by 3.2% during 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 boosted its position in Equinox Gold by 8.3% during the fourth quarter. HighTower Advisors LLC now owns 13,067 shares of the company’s stock valued at $183,000 after purchasing an additional 1,003 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Equinox Gold by 1.2% during the first quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company’s stock valued at $1,346,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Equinox Gold by 1.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company’s stock valued at $1,504,000 after purchasing an additional 1,251 shares in the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Stock Performance

EQX stock opened at $13.23 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $14.43 and its two-hundred day simple moving average is $14.37. Equinox Gold has a twelve month low of $5.61 and a twelve month high of $18.96. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 16.54 and a beta of 1.21.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The business had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. Analysts predict that Equinox Gold will post 1.28 earnings per share for the current year.

Equinox Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.015 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.5%. Equinox Gold’s dividend payout ratio (DPR) is currently 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.