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

Zacks Research cut shares of Equinox Gold (NYSEAMERICAN:EQX) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other analysts have also weighed in on EQX. Canadian Imperial Bank of Commerce restated 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 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. Finally, The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $13.00.

Equinox Gold Stock Down 0.6%

EQX stock opened at $9.29 on Tuesday. The firm has a 50-day moving average price of $10.64 and a 200-day moving average price of $13.51. Equinox Gold has a 12 month low of $6.01 and a 12 month high of $18.96. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.33 billion, a P/E ratio of 11.61 and a beta of 1.26.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $861.59 million for the quarter, compared to the consensus estimate of $896.94 million. Equinox Gold had a net margin of 21.72% and a return on equity of 10.26%. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that Equinox Gold will post 1.12 EPS for the current fiscal year.

Equinox Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Thursday, May 21st were paid a $0.015 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 annualized dividend and a dividend yield of 0.6%. Equinox Gold’s dividend payout ratio is currently 11.11%.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds have recently added to or reduced their stakes in EQX. Mcguire Capital Advisors Inc. acquired a new position in Equinox Gold in the 4th quarter valued at approximately $25,000. Lodestone Wealth Management LLC bought a new position in shares of Equinox Gold during the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Equinox Gold by 96.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after purchasing an additional 982 shares during the period. Quarry LP lifted its holdings in shares of Equinox Gold by 329.9% during the fourth quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after purchasing an additional 2,098 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Equinox Gold during the fourth quarter worth $39,000. 38.85% of the stock is currently owned by institutional investors and hedge funds.

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.