Equinox Gold (TSE:EQX) Announces Earnings Results

Equinox Gold (TSE:EQX) posted its quarterly earnings results on Wednesday. The company reported C$0.39 EPS for the quarter, FiscalAI reports. The business had revenue of C$1.20 billion during the quarter. Equinox Gold had a net margin of 9.71% and a return on equity of 4.68%.

Equinox Gold Stock Up 5.8%

Shares of Equinox Gold stock traded up C$1.08 during trading hours on Wednesday, reaching C$19.58. The company’s stock had a trading volume of 2,360,364 shares, compared to its average volume of 2,748,730. Equinox Gold has a one year low of C$7.71 and a one year high of C$25.87. The company has a market capitalization of C$15.45 billion, a P/E ratio of 55.94 and a beta of 2.87. The stock’s fifty day simple moving average is C$20.63 and its two-hundred day simple moving average is C$19.65. The company has a debt-to-equity ratio of 32.94, a quick ratio of 1.31 and a current ratio of 1.56.

Equinox Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 26th were paid a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, March 12th.

Analysts Set New Price Targets

EQX has been the subject of a number of research reports. National Bank Financial raised their price target on shares of Equinox Gold from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “hold” rating to an “outperform” rating and raised their price objective for the company from C$26.50 to C$32.00 in a research note on Tuesday, February 24th. TD Securities raised their price objective on shares of Equinox Gold from C$21.00 to C$26.00 in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Equinox Gold from C$25.00 to C$31.00 in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$25.86.

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.