Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Free Report) has earned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.00.
Several research firms have weighed in on EQX. Zacks Research lowered Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, August 7th. Finally, Royal Bank Of Canada dropped their target price on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, July 9th.
Equinox Gold Price Performance
Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $769.80 million during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, equities analysts expect that Equinox Gold will post 1.1 EPS for the current fiscal year.
Equinox Gold Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.0225 dividend. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, August 19th. Equinox Gold’s dividend payout ratio (DPR) is currently 16.67%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of EQX. Van ECK Associates Corp lifted its stake in Equinox Gold by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock valued at $849,875,000 after buying an additional 2,355,044 shares in the last quarter. Vanguard Group Inc. increased its position in Equinox Gold by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 30,714,751 shares of the company’s stock worth $431,665,000 after buying an additional 3,250,135 shares in the last quarter. FIL Ltd acquired a new position in shares of Equinox Gold in the fourth quarter worth $332,888,000. Maple Rock Capital Partners Inc. raised its holdings in shares of Equinox Gold by 21.6% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 20,234,048 shares of the company’s stock worth $284,152,000 after acquiring an additional 3,589,200 shares during the last quarter. Finally, L1 Capital Pty Ltd lifted its position in shares of Equinox Gold by 15.9% in 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. 38.85% of the stock is currently owned by institutional investors and hedge funds.
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.
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