Equinox Gold (NYSEAMERICAN:EQX) Upgraded at Zacks Research

Zacks Research upgraded shares of Equinox Gold (NYSEAMERICAN:EQX) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on EQX. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, February 23rd. Stifel Nicolaus began coverage on shares of Equinox Gold in a research report on Tuesday, December 2nd. They set a “buy” rating on the stock. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Equinox Gold Stock Down 7.5%

EQX opened at $12.03 on Tuesday. Equinox Gold has a one year low of $5.59 and a one year high of $18.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.27 and a current ratio of 1.56. The stock has a market capitalization of $9.48 billion, a P/E ratio of 50.13 and a beta of 1.20. The business’s 50-day simple moving average is $15.56 and its 200-day simple moving average is $13.56.

Equinox Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $0.015 dividend. This represents a $0.06 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, March 12th. Equinox Gold’s payout ratio is 11.11%.

Institutional Trading of Equinox Gold

A number of hedge funds have recently added to or reduced their stakes in EQX. Ruffer LLP grew its position in Equinox Gold by 15.4% in the 3rd quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after buying an additional 1,152,288 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Equinox Gold during the 3rd quarter worth $6,991,000. Maple Rock Capital Partners Inc. raised its position in Equinox Gold by 102.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock worth $82,398,000 after buying an additional 7,229,260 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Equinox Gold by 70.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 941,985 shares of the company’s stock worth $10,550,000 after acquiring an additional 390,000 shares during the period. Finally, Integrated Advisors Network LLC acquired a new stake in shares of Equinox Gold in the 3rd quarter worth $1,111,000. 38.85% of the stock is 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.