Equinox Gold (TSE:EQX) Posts Earnings Results

Equinox Gold (TSE:EQX) posted its earnings results on Wednesday. The company reported C$0.48 earnings per share for the quarter, FiscalAI reports. Equinox Gold had a net margin of 19.82% and a return on equity of 8.67%.

Equinox Gold Stock Performance

Shares of EQX traded down C$0.21 during mid-day trading on Friday, reaching C$23.04. 2,403,322 shares of the company’s stock were exchanged, compared to its average volume of 2,905,860. The business’s fifty day simple moving average is C$20.47 and its 200-day simple moving average is C$16.89. The stock has a market capitalization of C$18.08 billion, a PE ratio of 230.40 and a beta of 2.32. Equinox Gold has a 52-week low of C$7.71 and a 52-week high of C$24.17. The company has a debt-to-equity ratio of 45.65, a current ratio of 0.85 and a quick ratio of 1.31.

Wall Street Analyst Weigh In

EQX has been the topic of a number of recent analyst reports. Scotiabank raised shares of Equinox Gold from a “hold” rating to an “outperform” rating in a research report on Friday, November 7th. Canadian Imperial Bank of Commerce cut Equinox Gold from an “outperform” rating to a “hold” rating and cut their price target for the company from C$31.00 to C$26.50 in a research note on Thursday, February 5th. National Bank Financial lifted their price target on Equinox Gold from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a report on Friday. Cormark dropped their price objective on Equinox Gold from C$22.50 to C$21.00 in a report on Tuesday, December 16th. Finally, BMO Capital Markets raised their target price on Equinox Gold from C$18.00 to C$20.00 in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$25.07.

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.