Equinox Gold Corp. (TSE:EQX) Stock Now Rated "Buy" by Wall Street Analysts

Key Points

• Analysts rate Equinox Gold “Buy”: Five of six analysts recommend buying the stock, while one rates it a strong buy. The average 12-month price target is C$24.50, above its C$16.14 opening price.
• Equinox Gold reported quarterly revenue of C$1.09 billion and earnings of C$0.21 per share, with a 26.36% net margin and 13.85% return on equity.
• The company increased its quarterly dividend to C$0.0225 per share, equivalent to an annualized C$0.09 payout and a 0.6% yield.

Shares of Equinox Gold Corp. (TSE:EQX - Get Free Report) have received an average recommendation of "Buy" from the six analysts that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$24.50.

Several research analysts have recently weighed in on EQX shares. Scotiabank raised shares of Equinox Gold to a "strong-buy" rating in a research report on Friday, August 7th. Canadian Imperial Bank of Commerce decreased their price objective on shares of Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. Finally, TD lifted their price objective on shares of Equinox Gold from C$18.00 to C$20.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th.

Equinox Gold Trading Up 1.0%

Shares of TSE EQX opened at C$16.14 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.33 and a debt-to-equity ratio of 9.15. Equinox Gold has a 12 month low of C$11.91 and a 12 month high of C$25.87. The company has a market cap of C$18.84 billion, a price-to-earnings ratio of 14.94 and a beta of 3.28. The business has a fifty day simple moving average of C$16.52 and a 200-day simple moving average of C$16.71.

Equinox Gold (TSE:EQX - Get Free Report) last posted its quarterly earnings data 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 for the quarter. Sell-side analysts predict that Equinox Gold will post 1.3865979 EPS for the current year.

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.6%. This is a boost from Equinox Gold's previous quarterly dividend of $0.0150. The ex-dividend date of this dividend was Wednesday, August 19th. Equinox Gold's payout ratio is 2.78%.

Equinox Gold Company Profile

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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