Analysts Set Equinox Gold Corp. (NYSEAMERICAN:EQX) Target Price at $13.00

Shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) have earned a consensus rating of “Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.00.

EQX has been the topic of a number of research reports. The Goldman Sachs Group upgraded Equinox Gold from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Royal Bank Of Canada reduced their target price on shares of Equinox Gold from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. Finally, Zacks Research lowered shares of Equinox Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st.

Equinox Gold Stock Performance

Shares of EQX stock opened at $9.28 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 0.75. Equinox Gold has a fifty-two week low of $6.01 and a fifty-two week high of $18.96. The stock’s 50-day moving average is $10.56 and its two-hundred day moving average is $13.48. The firm has a market cap of $7.32 billion, a P/E ratio of 11.60 and a beta of 1.26.

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

Equinox Gold Dividend Announcement

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

Hedge Funds Weigh In On Equinox Gold

Hedge funds have recently bought and sold shares of the business. Mcguire Capital Advisors Inc. bought a new position in shares of Equinox Gold in the 4th quarter valued at approximately $25,000. Lodestone Wealth Management LLC acquired a new position in shares of Equinox Gold during the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its position in shares of Equinox Gold by 96.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company’s stock worth $29,000 after acquiring an additional 982 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Equinox Gold in the fourth quarter valued at $37,000. Finally, Quarry LP lifted its holdings in shares of Equinox Gold by 329.9% during the 4th quarter. Quarry LP now owns 2,734 shares of the company’s stock worth $38,000 after acquiring an additional 2,098 shares during the period. 38.85% of the stock is 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.