Cormark Weighs in on Equinox Gold Corp.’s Q3 2024 Earnings (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Equities researchers at Cormark increased their Q3 2024 earnings per share estimates for shares of Equinox Gold in a research report issued on Monday, August 12th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.15 for the quarter, up from their prior estimate of $0.14. The consensus estimate for Equinox Gold’s current full-year earnings is $0.40 per share. Cormark also issued estimates for Equinox Gold’s Q4 2024 earnings at $0.23 EPS and FY2024 earnings at $0.37 EPS.

Equinox Gold (NYSEAMERICAN:EQX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $269.43 million during the quarter. Equinox Gold had a positive return on equity of 0.43% and a negative net margin of 2.85%.

Separately, National Bank Financial upgraded shares of Equinox Gold from a “sector perform spec overwgt” rating to an “outperform overweight” rating in a research report on Friday, April 26th.

Equinox Gold Price Performance

Shares of EQX stock opened at $5.22 on Wednesday. Equinox Gold has a 12-month low of $3.95 and a 12-month high of $6.50. The company has a quick ratio of 0.49, a current ratio of 1.17 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.24 billion, a P/E ratio of -57.99 and a beta of 1.31.

Institutional Investors Weigh In On Equinox Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Equinox Gold by 568.5% during the 4th quarter. International Assets Investment Management LLC now owns 119,169 shares of the company’s stock worth $583,000 after purchasing an additional 101,344 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Equinox Gold by 328.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 999,780 shares of the company’s stock valued at $4,888,000 after acquiring an additional 766,250 shares during the period. Mackenzie Financial Corp increased its stake in shares of Equinox Gold by 58.6% during the 4th quarter. Mackenzie Financial Corp now owns 4,401,254 shares of the company’s stock worth $21,401,000 after purchasing an additional 1,625,994 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Equinox Gold in the 4th quarter valued at about $11,742,000. Finally, Duality Advisers LP bought a new position in Equinox Gold during the fourth quarter worth about $198,000. 38.85% of the stock is currently 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.