Equinox Gold (TSE:EQX) Announces Quarterly Earnings Results

Equinox Gold (TSE:EQX) posted its quarterly earnings results on Wednesday. The company reported C$0.21 EPS for the quarter, FiscalAI reports. The company had revenue of C$1.09 billion for the quarter. Equinox Gold had a net margin of 21.78% and a return on equity of 10.88%.

Equinox Gold Trading Up 7.4%

Shares of TSE:EQX traded up C$1.00 during mid-day trading on Wednesday, reaching C$14.50. 6,598,913 shares of the company were exchanged, compared to its average volume of 3,780,677. Equinox Gold has a 1 year low of C$8.67 and a 1 year high of C$25.87. The firm’s 50-day simple moving average is C$14.22 and its 200 day simple moving average is C$18.27. The firm has a market cap of C$11.44 billion, a price-to-earnings ratio of 16.11 and a beta of 3.11. The company has a debt-to-equity ratio of 10.04, a current ratio of 1.24 and a quick ratio of 1.31.

Equinox Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, June 5th were given a dividend of $0.015 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.4%. Equinox Gold’s dividend payout ratio (DPR) is presently 1.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EQX shares. Canadian Imperial Bank of Commerce decreased their target price on shares of Equinox Gold from C$31.00 to C$27.00 in a research note on Thursday, July 16th. TD decreased their target price on Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating on the stock in a research report on Monday, June 29th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Equinox Gold presently has an average rating of “Buy” and an average target price of C$24.50.

Insider Buying and Selling at Equinox Gold

In other news, insider Ryan King bought 3,000 shares of the company’s stock in a transaction 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 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 position. Also, Director Lenard Boggio purchased 1,922 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of C$18.58 per share, for a total transaction of C$35,710.76. Following the completion of the purchase, the director directly owned 76,069 shares of the company’s stock, valued at approximately C$1,413,362.02. This trade represents a 2.59% increase in their ownership of the stock. Insiders bought a total of 11,922 shares of company stock valued at $187,391 in the last three months. 6.40% of the stock is owned by corporate insiders.

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.