Equinox Gold Corp. (NYSEAMERICAN:EQX) Given Average Recommendation of “Moderate Buy” by Analysts

Equinox Gold Corp. (NYSEAMERICAN:EQX) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.00.

EQX has been the subject of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. BMO Capital Markets restated an “outperform” rating on shares of Equinox Gold in a research note on Tuesday, January 27th. Stifel Nicolaus started coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating for the company. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Canadian Imperial Bank of Commerce cut Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Equinox Gold by 91.3% in the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after buying an additional 45,820,861 shares during the last quarter. FIL Ltd purchased a new stake in shares of Equinox Gold during the fourth quarter worth about $332,888,000. L1 Capital Pty Ltd lifted its stake in shares of Equinox Gold by 120.4% in the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after acquiring an additional 13,060,846 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Equinox Gold by 44,440.1% in the second quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock valued at $59,850,000 after purchasing an additional 10,341,217 shares during the last quarter. Finally, Norges Bank acquired a new stake in Equinox Gold during the 4th quarter valued at approximately $141,388,000. Hedge funds and other institutional investors own 38.85% of the company’s stock.

Equinox Gold Trading Down 1.0%

Shares of EQX stock opened at $16.81 on Monday. 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 has a fifty-two week low of $5.59 and a fifty-two week high of $17.65. The firm’s 50 day moving average price is $14.94 and its two-hundred day moving average price is $12.35. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 70.04 and a beta of 1.24.

Equinox Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be paid a $0.015 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.06 annualized dividend and a dividend yield of 0.4%.

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.