Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Free Report) has received a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.00.
A number of brokerages have recently commented on EQX. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Royal Bank Of Canada lowered their price target on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Finally, Zacks Research upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, June 22nd.
View Our Latest Stock Analysis on EQX
Equinox Gold Stock Up 3.2%
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The business had revenue of $861.59 million during the quarter, compared to analyst estimates of $896.94 million. During the same quarter last year, the firm posted ($0.08) earnings per share. The company’s revenue was up 224.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Equinox Gold will post 1.12 earnings per share for the current year.
Equinox Gold Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Thursday, May 21st were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 annualized dividend and a yield of 0.6%. Equinox Gold’s dividend payout ratio is 11.11%.
Hedge Funds Weigh In On Equinox Gold
A number of large investors have recently bought and sold shares of EQX. Royal Bank of Canada grew its stake 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 valued at $3,843,000 after buying an additional 390,690 shares during the period. Millennium Management LLC purchased a new position in shares of Equinox Gold in the 1st quarter worth $6,883,000. Goldman Sachs Group Inc. raised its position in shares of Equinox Gold by 35.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,862,225 shares of the company’s stock worth $12,812,000 after buying an additional 490,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Equinox Gold by 164.8% in 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 valued at $5,367,000 after acquiring an additional 485,567 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 155,460 shares during the last quarter. Hedge funds and other institutional investors own 38.85% of the company’s stock.
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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