Equinox Gold (NYSEAMERICAN:EQX) Price Target Raised to $14.00

by · The Cerbat Gem

Equinox Gold (NYSEAMERICAN:EQX – Free Report) had its price target raised by Royal Bank Of Canada from $13.00 to $14.00 in a report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other brokerages have also weighed in on EQX. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research report on Thursday, July 16th. The Goldman Sachs Group upgraded shares of Equinox Gold from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Zacks Research downgraded Equinox Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Equinox Gold has an average rating of “Buy” and an average target price of $14.00.

Get Our Latest Research Report on EQX

Equinox Gold Stock Performance

Shares of NYSEAMERICAN EQX opened at $12.45 on Wednesday. The business has a fifty day simple moving average of $11.26 and a 200 day simple moving average of $12.41. The company has a current ratio of 1.33, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 12.45 and a beta of 1.32. Equinox Gold has a one year low of $8.48 and a one year high of $18.96.

Equinox Gold (NYSEAMERICAN:EQX – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Equinox Gold had a return on equity of 10.91% and a net margin of 26.30%.The business had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. Sell-side analysts expect that Equinox Gold will post 1.1 EPS for the current year.

Equinox Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.09 annualized dividend and a dividend yield of 0.7%. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. Equinox Gold’s dividend payout ratio is presently 16.67%.

Institutional Investors Weigh In On Equinox Gold

Hedge funds have recently made changes to their positions in the company. Bard Associates Inc. bought a new stake in Equinox Gold during the second quarter worth about $3,763,000. Euro Pacific Asset Management LLC increased its holdings in shares of Equinox Gold by 20.2% during the first quarter. Euro Pacific Asset Management LLC now owns 2,292,608 shares of the company’s stock worth $32,596,000 after buying an additional 385,638 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Equinox Gold by 2.8% in the second quarter. Van ECK Associates Corp now owns 87,435,651 shares of the company’s stock valued at $849,875,000 after acquiring an additional 2,355,044 shares during the last quarter. Cibc World Market Inc. bought a new position in shares of Equinox Gold in the second quarter valued at approximately $6,670,000. Finally, Amundi boosted its holdings in shares of Equinox Gold by 14.1% in the 1st quarter. Amundi now owns 4,239,964 shares of the company’s stock worth $61,310,000 after acquiring an additional 523,741 shares in the last quarter. Institutional investors and hedge funds own 38.85% of the company’s stock.

About Equinox Gold

(Get Free Report)

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold’s assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.

Read More