Equinox Gold Corp. (NYSEAMERICAN:EQX) to Post Q1 2024 Earnings of ($0.03) Per Share, Cormark Forecasts

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Analysts at Cormark cut their Q1 2024 EPS estimates for Equinox Gold in a note issued to investors on Monday, April 22nd. Cormark analyst R. Gray now anticipates that the company will earn ($0.03) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Equinox Gold’s current full-year earnings is $0.12 per share.

A number of other analysts have also weighed in on EQX. Desjardins upgraded shares of Equinox Gold from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of Equinox Gold in a report on Monday, April 8th.

Equinox Gold Trading Up 0.4 %

Equinox Gold stock opened at $5.25 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.73 billion, a PE ratio of 58.33 and a beta of 1.32. Equinox Gold has a 1-year low of $3.95 and a 1-year high of $6.50.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, February 21st. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $297.80 million during the quarter. Equinox Gold had a net margin of 2.65% and a return on equity of 0.69%.

Institutional Trading of Equinox Gold

Several institutional investors and hedge funds have recently bought and sold shares of EQX. Donald Smith & CO. Inc. lifted its holdings in Equinox Gold by 52.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,530,311 shares of the company’s stock worth $46,603,000 after buying an additional 3,262,602 shares during the period. Mackenzie Financial Corp lifted its holdings in Equinox Gold by 1,619.0% in the third quarter. Mackenzie Financial Corp now owns 2,775,260 shares of the company’s stock worth $11,679,000 after buying an additional 2,613,815 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Equinox Gold in the fourth quarter worth about $11,742,000. Norges Bank purchased a new stake in Equinox Gold in the fourth quarter worth about $9,111,000. Finally, American Century Companies Inc. increased its stake in shares of Equinox Gold by 3,396.3% during the third quarter. American Century Companies Inc. now owns 1,397,829 shares of the company’s stock valued at $5,904,000 after purchasing an additional 1,357,849 shares in the last quarter. 38.85% of the stock is currently owned by hedge funds and other 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.