Equinox Gold (NYSEAMERICAN:EQX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Equinox Gold (NYSEAMERICAN:EQX) announced its earnings results on Monday. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02, Zacks reports. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $987.04 million. Equinox Gold had a return on equity of 11.53% and a net margin of 23.83%.

Equinox Gold Stock Performance

Shares of EQX opened at $10.81 on Wednesday. Equinox Gold has a one year low of $8.48 and a one year high of $18.96. The company has a 50-day moving average of $11.40 and a two-hundred day moving average of $12.64. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 11.65 and a beta of 1.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77.

Equinox Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be issued a $0.0225 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 25th. Equinox Gold’s dividend payout ratio (DPR) is presently 16.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EQX. Royal Bank Of Canada upped their price target on shares of Equinox Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Zacks Research cut shares of Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 21st. TD Securities reiterated a “buy” rating on shares of Equinox Gold in a report on Thursday, September 17th. Scotiabank reiterated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Equinox Gold in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Equinox Gold Company Profile

Equinox Gold is a Canadian gold mining company focused on the acquisition, exploration, development and operation of gold properties. Its business includes producing and selling gold as well as advancing projects intended to support future production. The company’s activities span the Americas, where it operates mines and develops mineral projects. Equinox Gold was formed in 2017 and expanded through acquisitions, including its 2020 merger with Leagold Mining. Based in Vancouver, British Columbia, Equinox Gold focuses primarily on gold and related exploration and development work.