Equinox Gold (NYSEAMERICAN:EQX) Downgraded to “Hold” Rating by Zacks Research

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

EQX has been the topic of several other reports. Royal Bank Of Canada dropped their price target on Equinox Gold from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. The Goldman Sachs Group raised shares of Equinox Gold from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Equinox Gold in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.00.

Equinox Gold Stock Performance

Shares of Equinox Gold stock opened at $9.35 on Tuesday. The business has a 50-day moving average price of $10.74 and a two-hundred day moving average price of $13.54. Equinox Gold has a 1-year low of $6.01 and a 1-year 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 company has a market cap of $7.38 billion, a P/E ratio of 11.69 and a beta of 1.26.

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

Equinox Gold Dividend Announcement

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

Institutional Inflows and Outflows

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

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.