Equinox Gold (TSE:EQX) Trading 2.9% Higher – Here’s What Happened

Equinox Gold Corp. (TSE:EQX)’s stock price traded up 2.9% during mid-day trading on Friday . The company traded as high as C$16.24 and last traded at C$16.10. 2,639,149 shares traded hands during trading, a decline of 31% from the average session volume of 3,833,635 shares. The stock had previously closed at C$15.64.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EQX shares. Canadian Imperial Bank of Commerce dropped their target price on shares of Equinox Gold from C$31.00 to C$27.00 in a research report on Thursday, July 16th. Scotiabank raised shares of Equinox Gold to a “strong-buy” rating in a research report on Friday, August 7th. Finally, TD decreased their price objective on shares of Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating for the company in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$24.50.

Equinox Gold Stock Up 2.9%

The firm has a 50-day simple moving average of C$14.07 and a 200 day simple moving average of C$17.99. The company has a debt-to-equity ratio of 9.15, a current ratio of 1.33 and a quick ratio of 1.31. The company has a market capitalization of C$18.80 billion, a PE ratio of 14.91 and a beta of 3.07.

Equinox Gold (TSE:EQX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C$0.21 EPS for the quarter. Equinox Gold had a return on equity of 13.85% and a net margin of 26.36%.The company had revenue of C$1.09 billion for the quarter. On average, research analysts predict that Equinox Gold Corp. will post 1.3865979 EPS for the current fiscal year.

Equinox Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.0225 per share. This is a boost from Equinox Gold’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.09 annualized dividend and a yield of 0.6%. Equinox Gold’s dividend payout ratio is presently 2.78%.

Insider Activity at Equinox Gold

In other news, insider Daniella Elena Dimitrov acquired 7,000 shares of the stock in a transaction on Friday, June 12th. The stock was bought at an average price of C$14.40 per share, with a total value of C$100,800.00. Following the completion of the transaction, the insider directly owned 109,199 shares of the company’s stock, valued at C$1,572,465.60. The trade was a 6.85% increase in their ownership of the stock. Also, insider Ryan King acquired 3,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of C$16.96 per share, for a total transaction of C$50,880.00. Following the purchase, the insider directly owned 324,062 shares of the company’s stock, valued at approximately C$5,496,091.52. This trade represents a 0.93% increase in their ownership of the stock. Insiders own 6.40% of the company’s stock.

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.