Equinox Gold (TSE:EQX) Releases Quarterly Earnings Results

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

Equinox Gold Stock Performance

Shares of TSE EQX opened at C$15.08 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.31 and a debt-to-equity ratio of 10.04. The company has a market capitalization of C$11.90 billion, a P/E ratio of 16.76 and a beta of 3.07. Equinox Gold has a 12 month low of C$8.67 and a 12 month high of C$25.87. The stock has a 50 day moving average of C$14.13 and a 200-day moving average of C$18.19.

Equinox Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, September 2nd will be given a $0.0225 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This is a positive change from Equinox Gold’s previous quarterly dividend of $0.01. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.6%. Equinox Gold’s payout ratio is 1.67%.

Analyst Upgrades and Downgrades

EQX has been the subject of several recent research reports. 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 dropped their target price on Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Equinox Gold presently has an average rating of “Buy” and an average price target of C$24.50.

Insider Buying and Selling at Equinox Gold

In related news, insider Daniella Elena Dimitrov bought 7,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was bought at an average price of C$14.40 per share, for a total transaction of C$100,800.00. Following the purchase, the insider owned 109,199 shares in the company, valued at C$1,572,465.60. This represents a 6.85% increase in their position. Also, Director Lenard Boggio bought 1,922 shares of Equinox Gold stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of C$18.58 per share, with a total value of C$35,710.76. Following the acquisition, the director directly owned 76,069 shares in the company, valued at C$1,413,362.02. This trade represents a 2.59% increase in their position. Insiders acquired 11,922 shares of company stock valued at $187,391 in the last quarter. 6.40% of the stock is currently owned by 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.