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

Key Points

• Analysts remain bullish on Equinox Gold: Six firms give the stock an average “Buy” rating, including five buys and one strong buy, with an average 12-month price target of C$24.50.
• Shares have weakened significantly: Equinox Gold opened at C$13.55 after declining 4.8%, compared with a 52-week range of C$11.91 to C$25.87. The stock carries a high beta of 3.28, indicating substantial volatility.
• The company increased its dividend: Equinox Gold raised its quarterly payout to C$0.0225, or C$0.09 annually, producing a 0.7% yield; its latest quarter included C$0.21 in EPS and C$1.09 billion in revenue.

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

Several research firms have recently issued reports on EQX. Canadian Imperial Bank of Commerce lowered their target price on shares of Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. Scotiabank upgraded Equinox Gold to a "strong-buy" rating in a research note on Friday, August 7th. Finally, TD set a C$20.00 price target on Equinox Gold and gave the stock a "buy" rating in a research note on Tuesday, October 20th.

Equinox Gold Trading Down 4.8%

Shares of TSE EQX opened at C$13.55 on Friday. Equinox Gold has a 1 year low of C$11.91 and a 1 year high of C$25.87. The company has a debt-to-equity ratio of 9.15, a current ratio of 1.33 and a quick ratio of 1.31. The firm has a 50-day moving average of C$16.45 and a 200 day moving average of C$17.70. The stock has a market cap of C$15.82 billion, a P/E ratio of 12.55 and a beta of 3.28.

Equinox Gold (TSE:EQX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$0.21 earnings per share for the quarter. Equinox Gold had a net margin of 26.36% and a return on equity of 13.85%. The business had revenue of C$1.09 billion for the quarter. As a group, sell-side analysts expect that Equinox Gold will post 1.39 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 0.7%. This is a positive change from Equinox Gold's previous quarterly dividend of $0.0150. The ex-dividend date of this dividend was Wednesday, August 19th. 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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