Equinox Gold (TSE:EQX) Stock Price Up 2.9% – Still a Buy?

Equinox Gold Corp. (TSE:EQX)’s stock price rose 2.9% during mid-day trading on Friday . The stock traded as high as C$14.88 and last traded at C$14.74. Approximately 3,826,525 shares changed hands during 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

EQX has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce raised Equinox Gold from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$26.50 to C$32.00 in a research note on Tuesday, February 24th. 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 research note on Friday, February 20th. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$25.86.

Equinox Gold Stock Performance

The company has a debt-to-equity ratio of 10.04, a current ratio of 1.24 and a quick ratio of 1.31. The company has a 50 day simple moving average of C$18.53 and a 200-day simple moving average of C$19.80. The stock has a market cap of C$11.63 billion, a P/E ratio of 16.38 and a beta of 2.96.

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

Equinox Gold Announces Dividend

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

Insider Transactions at Equinox Gold

In other news, Director Lenard Boggio bought 1,922 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of C$18.58 per share, with a total value of C$35,710.76. Following the transaction, the director owned 76,069 shares of the company’s stock, valued at approximately C$1,413,362.02. The trade was a 2.59% increase in their ownership of the stock. Also, insider Daniella Elena Dimitrov bought 7,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was purchased at an average cost of C$14.40 per share, with a total value of C$100,800.00. Following the transaction, the insider directly owned 109,199 shares in the company, valued at approximately C$1,572,465.60. This represents a 6.85% increase in their position. In the last three months, insiders have acquired 11,922 shares of company stock worth $187,391. 6.40% of the stock is currently owned by 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.