Equinox Gold (TSE:EQX) Issues Quarterly Earnings Results

Equinox Gold (TSE:EQX) announced its quarterly earnings results on Monday. The company reported C$0.27 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$1.49 billion during the quarter. Equinox Gold had a net margin of 26.36% and a return on equity of 13.85%.

Equinox Gold Trading Up 4.8%

EQX stock traded up C$0.78 during trading on Monday, hitting C$17.02. The company had a trading volume of 2,983,395 shares, compared to its average volume of 3,791,368. The stock has a market cap of C$19.87 billion, a PE ratio of 15.76 and a beta of 3.51. The business has a 50-day moving average of C$16.08 and a 200-day moving average of C$17.57. The company has a current ratio of 1.33, a quick ratio of 1.31 and a debt-to-equity ratio of 9.15. Equinox Gold has a one year low of C$11.91 and a one year high of C$25.87.

Equinox Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were issued a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This is a boost from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 annualized dividend and a yield of 0.5%. Equinox Gold’s dividend payout ratio (DPR) is currently 2.78%.

Wall Street Analyst Weigh In

EQX has been the topic of a number of recent research reports. TD set a C$20.00 price target on shares of Equinox Gold and gave the stock a “buy” rating in a report on Tuesday, October 20th. Canadian Imperial Bank of Commerce decreased their price objective on Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. Finally, Scotiabank raised Equinox Gold to a “strong-buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$25.14.

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.