FY2024 EPS Estimate for Equinox Gold Boosted by Analyst

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of Equinox Gold in a research report issued to clients and investors on Tuesday, November 12th. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $0.24 per share for the year, up from their prior forecast of $0.18. The consensus estimate for Equinox Gold’s current full-year earnings is $0.36 per share.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, November 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The company had revenue of $428.40 million during the quarter, compared to the consensus estimate of $437.84 million. Equinox Gold’s revenue for the quarter was up 50.5% compared to the same quarter last year.

Equinox Gold Trading Down 0.4 %

Shares of Equinox Gold stock opened at $5.17 on Friday. Equinox Gold has a 1 year low of $3.95 and a 1 year high of $6.50. The stock has a market capitalization of $2.35 billion, a P/E ratio of 10.55 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Equinox Gold by 1.9% during the 1st quarter. SG Americas Securities LLC now owns 140,710 shares of the company’s stock valued at $847,000 after acquiring an additional 2,566 shares during the last quarter. Russell Investments Group Ltd. grew its position in Equinox Gold by 13.1% in the 1st quarter. Russell Investments Group Ltd. now owns 2,955,057 shares of the company’s stock worth $17,841,000 after purchasing an additional 341,632 shares during the period. Vanguard Group Inc. raised its stake in Equinox Gold by 9.9% during the 1st quarter. Vanguard Group Inc. now owns 10,519,078 shares of the company’s stock valued at $63,325,000 after buying an additional 943,855 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of Equinox Gold by 9.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 10,449,810 shares of the company’s stock valued at $62,908,000 after buying an additional 919,499 shares during the period. Finally, Shell Asset Management Co. boosted its stake in shares of Equinox Gold by 92.4% in the 1st quarter. Shell Asset Management Co. now owns 1,118,137 shares of the company’s stock worth $6,751,000 after buying an additional 536,905 shares during the last quarter. 38.85% of the stock is owned by institutional investors.

About Equinox Gold

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.