Equinox Gold Corp. (NYSEAMERICAN:EQX) Stock Has Average Price Target of $14.00 According to Analysts

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have earned an average rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.00.

EQX has been the subject of a number of research reports. TD Securities reaffirmed a “buy” rating on shares of Equinox Gold in a report on Thursday, September 17th. Royal Bank Of Canada increased their price target on shares of Equinox Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th.

Equinox Gold Stock Performance

Shares of EQX stock opened at $11.12 on Tuesday. The firm has a market capitalization of $12.98 billion, a price-to-earnings ratio of 11.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77. The business has a fifty day moving average of $11.91 and a 200 day moving average of $11.99. Equinox Gold has a 1 year low of $8.48 and a 1 year high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. As a group, research analysts expect that Equinox Gold will post 1.1 earnings per share for the current year.

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.0225 per share. This is a boost from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, August 19th. Equinox Gold’s payout ratio is presently 16.67%.

Institutional Investors Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Equinox Gold by 2.8% in the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock worth $849,875,000 after buying an additional 2,355,044 shares during the last quarter. L1 Capital Pty Ltd raised its position in Equinox Gold by 15.9% during the fourth quarter. L1 Capital Pty Ltd now owns 20,164,556 shares of the company’s stock valued at $283,110,000 after acquiring an additional 2,768,141 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Equinox Gold by 5.1% in the fourth quarter. Franklin Resources Inc. now owns 12,449,178 shares of the company’s stock valued at $174,928,000 after acquiring an additional 603,803 shares during the period. Deutsche Bank AG acquired a new position in Equinox Gold in the second quarter valued at approximately $82,981,000. Finally, Amundi boosted its position in Equinox Gold by 25.2% in the 2nd quarter. Amundi now owns 5,307,103 shares of the company’s stock worth $51,585,000 after purchasing an additional 1,067,139 shares in the last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

About Equinox Gold

Equinox Gold Corp. is a mining company focused on the exploration, development and operation of gold properties in the Americas. The company produces gold doré and related gold products from its operating mines and advances a portfolio of development and exploration projects intended to support long-term production.

Equinox Gold’s portfolio has included the Mesquite and Castle Mountain properties in California, the Greenstone Mine in Ontario, and the Aurizona, Fazenda and Santa Luz mines in Brazil, as well as the Los Filos complex in Mexico.