Equinox Gold (NYSEAMERICAN:EQX) Trading Up 5.5% – Should You Buy?

Equinox Gold Corp. (NYSEAMERICAN:EQX)’s share price was up 5.5% during mid-day trading on Friday . The company traded as high as $9.97 and last traded at $9.9310. 1,872,939 shares changed hands during trading, a decline of 83% from the average session volume of 10,813,471 shares. The stock had previously closed at $9.41.

Analyst Ratings Changes

EQX has been the subject of several research reports. Royal Bank Of Canada dropped their price target on shares of Equinox Gold from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, June 8th. The Goldman Sachs Group raised Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Zacks Research raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $14.00.

Equinox Gold Trading Up 5.2%

The business’s 50-day moving average is $12.61 and its two-hundred day moving average is $14.18. The stock has a market capitalization of $7.81 billion, a PE ratio of 12.43 and a beta of 1.18. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.10.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings data 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). The firm had revenue of $861.59 million during the quarter, compared to analysts’ expectations of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. Equinox Gold’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, analysts anticipate that Equinox Gold Corp. will post 1.27 earnings per share for the current fiscal year.

Equinox Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were paid a $0.015 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, May 21st. Equinox Gold’s dividend payout ratio (DPR) is 11.11%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EQX. Integrated Advisors Network LLC acquired a new position in Equinox Gold during the third quarter worth $1,111,000. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 822,981 shares in the last quarter. Gemsstock Ltd. lifted its stake in shares of Equinox Gold by 2.2% in the third quarter. Gemsstock Ltd. now owns 5,442,905 shares of the company’s stock valued at $61,069,000 after purchasing an additional 118,428 shares during the period. Euro Pacific Asset Management LLC lifted its stake in shares of Equinox Gold by 8.3% in the fourth quarter. Euro Pacific Asset Management LLC now owns 1,906,970 shares of the company’s stock valued at $26,173,000 after purchasing an additional 145,541 shares during the period. Finally, TT International Asset Management LTD purchased a new stake in Equinox Gold during the fourth quarter worth about $24,061,000. 38.85% of the stock is owned by hedge funds and other 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.