Equinox Gold Corp. (TSE:EQX) Stock Has Consensus Price Target of C$24.50

Equinox Gold Corp. (TSE:EQX) has received an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$24.50.

Several research analysts recently issued reports on the stock. 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 upped their price target on shares of Equinox Gold from C$18.00 to C$20.00 and gave the company a “buy” rating in a report on Thursday, September 17th. Finally, Scotiabank raised Equinox Gold to a “strong-buy” rating in a research report on Friday, August 7th.

Equinox Gold Price Performance

Shares of TSE EQX opened at C$16.32 on Wednesday. Equinox Gold has a 52 week low of C$11.91 and a 52 week high of C$25.87. The business’s 50 day moving average price is C$16.71 and its 200 day moving average price is C$16.69. The company has a quick ratio of 1.31, a current ratio of 1.33 and a debt-to-equity ratio of 9.15. The firm has a market cap of C$19.05 billion, a P/E ratio of 15.11 and a beta of 3.28.

Equinox Gold (TSE:EQX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$0.21 EPS for the quarter. The business had revenue of C$1.09 billion during the quarter. Equinox Gold had a net margin of 26.36% and a return on equity of 13.85%. On average, sell-side analysts expect that Equinox Gold will post 1.39 earnings per share for the current year.

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 dividend of $0.0225 per share. This represents a $0.09 annualized dividend and a yield of 0.6%. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.0150. The ex-dividend date of this dividend was Wednesday, August 19th. Equinox Gold’s dividend payout ratio is 2.78%.

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.