Equinox Gold Corp. (TSE:EQX) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Equinox Gold has a consensus “Buy” rating from six analysts: five rate it Buy and one Strong Buy. The average 12-month price target is C$24.50.
• Analysts recently adjusted their targets, with CIBC cutting its target to C$27 from C$31 and TD reducing its target to C$20 from C$23; Scotiabank upgraded the stock to Strong Buy.
• The company reported quarterly EPS of C$0.21 on C$1.09 billion in revenue and increased its quarterly dividend to $0.0225 per share, implying a 0.5% annualized yield.

Shares of Equinox Gold Corp. (TSE:EQX - Get Free Report) have been given a consensus recommendation of "Buy" by the six research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$24.50.

Several equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce decreased their target price on Equinox Gold from C$31.00 to C$27.00 in a research report on Thursday, July 16th. TD reduced their price target on Equinox Gold from C$23.00 to C$20.00 and set a "buy" rating on the stock in a research report on Monday, June 29th. Finally, Scotiabank upgraded Equinox Gold to a "strong-buy" rating in a report on Friday, August 7th.

Equinox Gold Stock Performance

TSE:EQX opened at C$17.16 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.31 and a debt-to-equity ratio of 9.15. The firm has a market capitalization of C$20.03 billion, a price-to-earnings ratio of 15.89 and a beta of 3.35. The firm's fifty day simple moving average is C$15.40 and its 200 day simple moving average is C$17.50. Equinox Gold has a twelve month low of C$11.91 and a twelve month high of C$25.87.

Equinox Gold (TSE:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$0.21 earnings per share (EPS) for the quarter. Equinox Gold had a return on equity of 13.85% and a net margin of 26.36%.The firm had revenue of C$1.09 billion during the quarter. As a group, equities research analysts expect that Equinox Gold will post 1.3865979 earnings per share for the current fiscal 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, September 2nd were given a dividend of $0.0225 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This is an increase from Equinox Gold's previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.5%. Equinox Gold's dividend payout ratio is presently 2.78%.

About Equinox Gold

Equinox Gold Corp is a Canadian-based gold mining company engaged in the exploration, development and production of gold assets across the Americas. The company focuses on operating and advancing assets that can deliver sustainable gold production through modern mining methods and responsible environmental practices.

Equinox Gold’s operating portfolio includes the Los Filos mine in Mexico, the Mesquite and Castle Mountain mines in California, and the Aurizona mine in Brazil. These assets employ a combination of heap‐leach and carbon‐in‐leach processing techniques to produce gold doré, while ongoing exploration programs seek to expand mineral reserves and extend mine life at each site.

Since its formation, Equinox Gold has grown through strategic acquisitions and organic project development, building a pipeline of development‐stage and advanced exploration properties across North and South America.

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