Equinox Gold (TSE:EQX) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

Equinox Gold Corp. (TSE:EQX) shares crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$16.08 and traded as high as C$16.30. Equinox Gold shares last traded at C$16.24, with a volume of 3,331,369 shares changing hands.

Analyst Ratings Changes

EQX has been the topic of several recent analyst reports. TD set a C$20.00 target price on Equinox Gold and gave the company a “buy” rating in a report on Tuesday, October 20th. Canadian Imperial Bank of Commerce dropped their price objective on shares of Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. Finally, Scotiabank upgraded shares of Equinox Gold to a “strong-buy” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, Equinox Gold has a consensus rating of “Buy” and an average target price of C$25.14.

Equinox Gold Stock Performance

The company has a market capitalization of C$18.96 billion, a price-to-earnings ratio of 15.04 and a beta of 3.51. The company’s 50-day moving average price is C$16.08 and its two-hundred day moving average price is C$17.57. The company has a debt-to-equity ratio of 9.15, a current ratio of 1.33 and a quick ratio of 1.31.

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

Equinox Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd were issued a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.0150. Equinox Gold’s dividend payout ratio is presently 2.78%.

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.