Equinox Gold (TSE:EQX) Trading 2.9% Higher - Should You Buy?

Key Points

• Equinox Gold shares rose 2.9% to C$16.10, although trading volume was 31% below the average session level.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a C$24.50 price target; individual targets range from C$20.00 to C$27.00.
• The company reported C$0.21 in quarterly EPS on C$1.09 billion in revenue and increased its quarterly dividend to C$0.0225, implying a 0.6% annualized yield.

Shares of Equinox Gold Corp. (TSE:EQX - Get Free Report) rose 2.9% during trading on Friday . The stock traded as high as C$16.24 and last traded at C$16.10. 2,639,149 shares were traded during mid-day trading, a decline of 31% from the average session volume of 3,833,635 shares. The stock had previously closed at C$15.64.

Analyst Upgrades and Downgrades

EQX has been the subject of several research reports. TD lowered their price objective on shares of Equinox Gold from C$23.00 to C$20.00 and set a "buy" rating for the company in a research report 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 target on shares of Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of C$24.50.

Equinox Gold Stock Up 2.9%

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 business has a 50-day moving average price of C$14.07 and a 200-day moving average price of C$17.99. The firm has a market cap of C$18.80 billion, a P/E ratio of 14.91 and a beta of 3.07.

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 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. On average, equities analysts forecast that Equinox Gold Corp. will post 1.3865979 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd will be issued a $0.0225 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.09 annualized dividend and a dividend yield of 0.6%. This is an increase from Equinox Gold's previous quarterly dividend of $0.01. Equinox Gold's dividend payout ratio (DPR) is presently 2.78%.

Insider Activity

In other Equinox Gold news, insider Daniella Elena Dimitrov purchased 7,000 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of C$14.40 per share, with a total value of C$100,800.00. Following the transaction, the insider owned 109,199 shares of the company's stock, valued at approximately C$1,572,465.60. This trade represents a 6.85% increase in their ownership of the stock. Also, insider Ryan King acquired 3,000 shares of the company's stock in a transaction dated 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 completion of the purchase, the insider owned 324,062 shares of the company's stock, valued at approximately C$5,496,091.52. This represents a 0.93% 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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