Equinox Gold (TSE:EQX) Announces Quarterly Earnings Results

Equinox Gold (TSE:EQX) announced its earnings results on Wednesday. The company reported C$0.21 EPS for the quarter, FiscalAI reports. Equinox Gold had a net margin of 21.78% and a return on equity of 10.88%. The firm had revenue of C$1.09 billion for the quarter.

Equinox Gold Stock Performance

Shares of EQX stock opened at C$14.50 on Thursday. Equinox Gold has a 12 month low of C$8.67 and a 12 month high of C$25.87. The company’s fifty day simple moving average is C$14.18 and its 200-day simple moving average is C$18.23. The firm has a market cap of C$11.44 billion, a PE ratio of 16.11 and a beta of 3.07. The company has a quick ratio of 1.31, a current ratio of 1.24 and a debt-to-equity ratio of 10.04.

Equinox Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, June 5th were given a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 21st. Equinox Gold’s payout ratio is currently 1.67%.

Insider Activity at Equinox Gold

In other news, Director Lenard Boggio bought 1,922 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of C$18.58 per share, for a total transaction of C$35,710.76. Following the purchase, the director owned 76,069 shares of the company’s stock, valued at approximately C$1,413,362.02. This trade represents a 2.59% increase in their position. Also, insider Daniella Elena Dimitrov purchased 7,000 shares of the stock in a transaction on Friday, June 12th. The shares were acquired at an average cost of C$14.40 per share, for a total transaction 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. The trade was a 6.85% increase in their ownership of the stock. Over the last 90 days, insiders acquired 11,922 shares of company stock valued at $187,391. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EQX shares. Canadian Imperial Bank of Commerce reduced their target price on shares of Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. 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. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$24.50.

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.