Equinox Gold Corp. (NYSEAMERICAN:EQX) Receives $17.00 Consensus Price Target from Brokerages

Equinox Gold Corp. (NYSEAMERICAN:EQX) has been assigned a consensus rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.00.

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

Equinox Gold Stock Performance

Shares of EQX opened at $18.76 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24. Equinox Gold has a 52-week low of $5.59 and a 52-week high of $18.96. The company has a 50-day simple moving average of $15.38 and a 200-day simple moving average of $12.76. The company has a market capitalization of $14.79 billion, a PE ratio of 78.17 and a beta of 1.20.

Equinox Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.015 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.3%.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Equinox Gold by 91.3% in the third quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after purchasing an additional 45,820,861 shares in the last quarter. FIL Ltd acquired a new position in shares of Equinox Gold during the 4th quarter worth approximately $332,888,000. L1 Capital Pty Ltd lifted its stake in Equinox Gold by 120.4% in the 2nd quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock valued at $137,476,000 after buying an additional 13,060,846 shares in the last quarter. Franklin Resources Inc. lifted its stake in Equinox Gold by 44,440.1% in the 2nd quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock valued at $59,850,000 after buying an additional 10,341,217 shares in the last quarter. Finally, Norges Bank acquired a new stake in Equinox Gold during the 4th quarter valued at $141,388,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.