Equinox Gold (TSE:EQX) Releases Earnings Results

Equinox Gold (TSE:EQX) issued its quarterly earnings data on Monday. The company reported C$0.27 earnings per share for the quarter, FiscalAI reports. The business 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%

Shares of EQX stock opened at C$17.02 on Tuesday. Equinox Gold has a 1 year low of C$11.91 and a 1 year high of C$25.87. The firm’s fifty day simple moving average is C$16.06 and its 200 day simple moving average is C$17.55. The firm has a market capitalization of C$19.87 billion, a P/E ratio of 15.76 and a beta of 3.51. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were paid a $0.0225 dividend. The ex-dividend date was Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.0150. This represents a $0.09 annualized dividend and a dividend yield of 0.5%. Equinox Gold’s dividend payout ratio is 2.78%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce lowered their target price on shares of Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. Scotiabank raised shares of Equinox Gold to a “strong-buy” rating in a research report on Friday, August 7th. Finally, TD set a C$20.00 price target on shares of Equinox Gold and gave the company a “buy” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.