Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives Consensus Rating of “Buy” from Analysts

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been assigned an average rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

EQX has been the subject of a number of analyst reports. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Stifel Nicolaus assumed coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Zacks Research raised Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th.

Equinox Gold Stock Performance

NYSEAMERICAN EQX opened at $12.41 on Friday. 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 firm’s fifty day moving average price is $15.77 and its two-hundred day moving average price is $13.45. Equinox Gold has a 1 year low of $5.59 and a 1 year high of $18.96. The firm has a market capitalization of $9.78 billion, a P/E ratio of 51.71 and a beta of 1.20.

Equinox Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, March 12th. Equinox Gold’s payout ratio is 11.11%.

Hedge Funds Weigh In On Equinox Gold

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in shares of Equinox Gold by 232.7% during the 1st quarter. Royal Bank of Canada now owns 558,605 shares of the company’s stock worth $3,843,000 after buying an additional 390,690 shares during the period. Millennium Management LLC bought a new position in Equinox Gold in the 1st quarter valued at about $6,883,000. Goldman Sachs Group Inc. lifted its position in Equinox Gold by 35.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after acquiring an additional 490,251 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Equinox Gold by 164.8% during the first 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 acquiring an additional 485,567 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Equinox Gold by 77.5% in the second quarter. Geode Capital Management LLC now owns 356,122 shares of the company’s stock valued at $2,067,000 after purchasing an additional 155,460 shares during the last quarter. 38.85% of the stock is owned by institutional investors.

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.