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

Key Points

• Analysts maintain a bullish view: Equinox Gold received a consensus “Buy” rating from seven analysts, with six buys and one strong buy. The average 12-month price target is C$24.50.
• Recent analyst actions were mixed but generally positive: TD and CIBC lowered their price targets to C$20 and C$27, respectively, while Scotiabank upgraded the stock to “strong buy.”
• Equinox Gold reported quarterly revenue of C$1.09 billion and EPS of C$0.21, and raised its quarterly dividend to $0.0225 per share, equivalent to a 0.6% annualized yield.

Shares of Equinox Gold Corp. (TSE:EQX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$24.50.

A number of research firms recently weighed in on EQX. TD dropped 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 note on Monday, June 29th. Scotiabank raised shares of Equinox Gold to a "strong-buy" rating in a research report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th.

Equinox Gold Price Performance

Shares of TSE EQX opened at C$16.33 on Tuesday. The business's 50 day moving average price is C$14.09 and its two-hundred day moving average price is C$17.91. The company has a market cap of C$19.06 billion, a PE ratio of 15.12 and a beta of 3.07. 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 twelve month low of C$10.46 and a twelve month high of C$25.87.

Equinox Gold (TSE:EQX - Get Free Report) last released 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 company had revenue of C$1.09 billion during the quarter. On average, analysts predict that Equinox Gold will post 1.3865979 EPS for the current year.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.0225 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Equinox Gold's previous quarterly dividend of $0.01. Equinox Gold's dividend payout ratio is 2.78%.

Insider Activity

In related news, insider Ryan King purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of C$16.96 per share, for a total transaction of C$50,880.00. Following the purchase, the insider owned 324,062 shares in the company, valued at approximately C$5,496,091.52. This represents a 0.93% increase in their ownership of the stock. Also, insider Daniella Elena Dimitrov purchased 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The stock was bought at an average price of C$14.40 per share, for a total transaction of C$100,800.00. Following the purchase, the insider owned 109,199 shares in the company, valued at C$1,572,465.60. The trade was a 6.85% increase in their position. Insiders own 6.40% of the company's stock.

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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