Cormark Has Bearish Outlook for Equinox Gold FY2024 Earnings

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Analysts at Cormark dropped their FY2024 earnings per share (EPS) estimates for shares of Equinox Gold in a research note issued to investors on Friday, November 8th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.24 for the year, down from their previous forecast of $0.27. The consensus estimate for Equinox Gold’s current full-year earnings is $0.36 per share.

Equinox Gold (NYSEAMERICAN:EQX) last issued 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). The firm had revenue of $428.40 million during the quarter, compared to analyst estimates of $437.84 million. Equinox Gold had a net margin of 19.83% and a return on equity of 0.73%. The business’s revenue was up 50.5% on a year-over-year basis.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $5.44 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.45 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.10 and a beta of 1.31. Equinox Gold has a 12 month low of $3.95 and a 12 month high of $6.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EQX. SG Americas Securities LLC lifted its position in shares of Equinox Gold by 1.9% during the first quarter. SG Americas Securities LLC now owns 140,710 shares of the company’s stock worth $847,000 after purchasing an additional 2,566 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Equinox Gold by 15.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 26,460 shares of the company’s stock worth $138,000 after buying an additional 3,528 shares in the last quarter. Private Advisor Group LLC boosted its position in Equinox Gold by 2.0% in the 2nd quarter. Private Advisor Group LLC now owns 201,057 shares of the company’s stock valued at $1,052,000 after buying an additional 3,862 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Equinox Gold by 30.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 21,559 shares of the company’s stock valued at $113,000 after buying an additional 5,000 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Equinox Gold by 0.8% in the 2nd quarter. Raymond James & Associates now owns 645,727 shares of the company’s stock valued at $3,377,000 after buying an additional 5,143 shares during the period. 38.85% of the stock is owned by institutional investors and hedge funds.

Equinox Gold Company Profile

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.