Equinox Gold (NYSEAMERICAN:EQX) Cut to Hold at Zacks Research

Zacks Research lowered shares of Equinox Gold (NYSEAMERICAN:EQX) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

EQX has been the subject of several other research reports. Canadian Imperial Bank of Commerce upgraded Equinox Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Finally, Scotiabank restated an “outperform” rating on shares of Equinox Gold in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $14.33 on Wednesday. The business has a 50 day moving average price of $15.25 and a 200 day moving average price of $14.14. Equinox Gold has a twelve month low of $5.61 and a twelve month high of $18.96. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 59.71 and a beta of 1.33. The company has a quick ratio of 1.27, a current ratio of 1.56 and a debt-to-equity ratio of 0.24.

Equinox Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a dividend of $0.015 per share. This represents a $0.06 annualized dividend and a yield of 0.4%. The ex-dividend date was Thursday, March 12th. Equinox Gold’s payout ratio is currently 11.11%.

Hedge Funds Weigh In On Equinox Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. bought a new position in Equinox Gold during the fourth quarter valued at about $25,000. Aventura Private Wealth LLC bought a new position in Equinox Gold during the fourth quarter valued at about $28,000. Lodestone Wealth Management LLC bought a new position in Equinox Gold during the fourth quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB bought a new position in Equinox Gold during the fourth quarter valued at about $37,000. Finally, Quarry LP increased its stake in Equinox Gold by 329.9% during the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock valued at $38,000 after acquiring an additional 2,098 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.