Brokerages Set Equinox Gold Corp. (TSE:EQX) Target Price at C$24.50

Equinox Gold Corp. (TSE:EQX) has been given an average rating of “Buy” by the seven brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$24.50.

Several research analysts have weighed in on the company. Canadian Imperial Bank of Commerce cut their price target on Equinox Gold from C$31.00 to C$27.00 in a report on Thursday, July 16th. Scotiabank upgraded Equinox Gold to a “strong-buy” rating in a report on Friday, August 7th. Finally, TD lowered their price objective on Equinox Gold from C$23.00 to C$20.00 and set a “buy” rating for the company in a research report on Monday, June 29th.

Insider Buying and Selling

In other Equinox Gold news, insider Daniella Elena Dimitrov purchased 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, for a total transaction of C$100,800.00. Following the acquisition, the insider directly owned 109,199 shares of the company’s stock, valued at C$1,572,465.60. This represents a 6.85% increase in their ownership of the stock. 6.40% of the stock is owned by company insiders.

Equinox Gold Stock Performance

Shares of TSE EQX opened at C$19.07 on Tuesday. The company has a market cap of C$22.26 billion, a PE ratio of 17.66 and a beta of 3.07. Equinox Gold has a 12 month low of C$11.18 and a 12 month high of C$25.87. 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 50-day simple moving average of C$14.41 and a 200-day simple moving average of C$17.81.

Equinox Gold (TSE:EQX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$0.21 earnings per share 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 during the quarter. On average, equities analysts anticipate that Equinox Gold will post 1.3865979 earnings per share for the current year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd will be paid a $0.0225 dividend. This represents a $0.09 dividend on an annualized basis and a yield of 0.5%. 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. Equinox Gold’s dividend payout ratio is 2.78%.

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.