Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Free Report) dropped 7.6% during trading on Monday . The stock traded as low as $12.52 and last traded at $12.5170. Approximately 3,897,044 shares changed hands during trading, a decline of 61% from the average daily volume of 9,953,215 shares. The stock had previously closed at $13.54.
Analysts Set New Price Targets
EQX has been the subject of several recent analyst reports. Zacks Research cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 22nd. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold has an average rating of “Buy” and an average target price of $17.00.
Read Our Latest Stock Analysis on Equinox Gold
Equinox Gold Stock Down 6.2%
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a return on equity of 10.26% and a net margin of 21.72%.The business’s revenue was up 224.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. On average, research analysts anticipate that Equinox Gold Corp. will post 1.27 EPS for the current fiscal year.
Equinox Gold Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Thursday, May 21st will be paid a $0.015 dividend. 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 payout ratio is presently 11.11%.
Institutional Trading of Equinox Gold
Hedge funds have recently made changes to their positions in the company. Integrated Advisors Network LLC bought a new stake in shares of Equinox Gold in the third quarter valued at $1,111,000. Vanguard Group Inc. raised its stake in shares of Equinox Gold by 3.1% in the third quarter. Vanguard Group Inc. now owns 27,464,616 shares of the company’s stock valued at $307,659,000 after buying an additional 822,981 shares during the period. Gemsstock Ltd. raised 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 buying an additional 118,428 shares during the period. Waratah Capital Advisors Ltd. raised its stake in shares of Equinox Gold by 717.8% in the third quarter. Waratah Capital Advisors Ltd. now owns 3,526,159 shares of the company’s stock valued at $39,564,000 after buying an additional 3,094,966 shares during the period. Finally, Euro Pacific Asset Management LLC raised 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 buying an additional 145,541 shares during the period. 38.85% of the stock is currently 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.
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