Equinox Gold (TSE:EQX) Stock Price Up 2.9% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented 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 report on Thursday, July 16th. TD lowered their price target on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Finally, Scotiabank raised shares of 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 six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Equinox Gold currently has a consensus rating of “Buy” and a consensus target price of C$24.50.

Equinox Gold Stock Performance

The firm has a fifty day moving average price of C$14.07 and a 200 day moving average price of C$17.99. The company has a debt-to-equity ratio of 9.15, a quick ratio of 1.31 and a current ratio of 1.33. The stock has a market cap of C$18.80 billion, a PE ratio of 14.91 and a beta of 3.07.

Equinox Gold (TSE:EQX) last announced its earnings results 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 for the quarter. Research analysts forecast that Equinox Gold Corp. will post 1.3865979 earnings per share 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. Shareholders of record on Wednesday, September 2nd will be issued a $0.0225 dividend. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Equinox Gold’s dividend payout ratio is 2.78%.

Insider Transactions at Equinox Gold

In related news, insider Daniella Elena Dimitrov acquired 7,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of C$14.40 per share, for a total transaction of C$100,800.00. Following the completion of the acquisition, the insider directly owned 109,199 shares in the company, valued at C$1,572,465.60. The trade was a 6.85% increase in their position. Also, insider Ryan King acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of C$16.96 per share, with a total value of C$50,880.00. Following the completion of the transaction, the insider directly owned 324,062 shares in the company, valued at C$5,496,091.52. The trade was a 0.93% increase in their ownership of the stock. 6.40% of the stock is currently owned by insiders.

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.