Equinox Gold (TSE:EQX) Trading Up 2.9% – Should You Buy?

Shares of Equinox Gold Corp. (TSE:EQX) were up 2.9% during mid-day trading on Friday . The company traded as high as C$14.88 and last traded at C$14.74. Approximately 3,826,525 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 3,624,461 shares. The stock had previously closed at C$14.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQX shares. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to an “outperform” rating and increased their price target for the company from C$26.50 to C$32.00 in a research report on Tuesday, February 24th. National Bank Financial increased their price target on Equinox Gold from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$25.86.

Equinox Gold Stock Up 2.9%

The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.31 and a current ratio of 1.24. The firm has a market cap of C$11.63 billion, a price-to-earnings ratio of 16.38 and a beta of 2.96. The firm has a 50-day moving average price of C$18.53 and a two-hundred day moving average price of C$19.80.

Equinox Gold (TSE:EQX) last issued its earnings results on Wednesday, May 6th. The company reported C$0.39 earnings per share for the quarter. Equinox Gold had a return on equity of 10.88% and a net margin of 21.78%.The business had revenue of C$1.20 billion for the quarter. On average, sell-side analysts forecast that Equinox Gold Corp. will post 1.3865979 earnings per share for the current year.

Equinox Gold Announces Dividend

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

Insider Activity

In other Equinox Gold news, insider Ryan King bought 3,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of C$16.96 per share, with a total value of C$50,880.00. Following the transaction, the insider owned 324,062 shares of the company’s stock, valued at approximately C$5,496,091.52. The trade was a 0.93% increase in their ownership of the stock. Also, Director Lenard Boggio bought 1,922 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of C$18.58 per share, for a total transaction of C$35,710.76. Following the transaction, the director directly owned 76,069 shares in the company, valued at approximately C$1,413,362.02. This represents a 2.59% increase in their position. 6.40% of the stock is currently owned by company insiders.

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.