Scotiabank Has Positive View of Equinox Gold FY2025 Earnings

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Equities research analysts at Scotiabank upped their FY2025 EPS estimates for shares of Equinox Gold in a note issued to investors on Friday, November 28th. Scotiabank analyst O. Habib now forecasts that the company will earn $0.60 per share for the year, up from their previous estimate of $0.48. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Equinox Gold’s current full-year earnings is $0.85 per share.

Equinox Gold (NYSEAMERICAN:EQX) last announced its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Equinox Gold had a net margin of 2.71% and a return on equity of 5.57%. The firm had revenue of $819.01 million for the quarter, compared to analyst estimates of $607.81 million. The business’s revenue was up 91.2% compared to the same quarter last year.

A number of other research firms have also recently commented on EQX. Royal Bank Of Canada upgraded Equinox Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $11.00 to $17.00 in a research note on Wednesday, September 10th. TD Securities reissued a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th. Cormark raised shares of Equinox Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 15th. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Stifel Nicolaus initiated coverage on shares of Equinox Gold in a research note on Tuesday. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Equinox Gold Stock Performance

Shares of EQX opened at $13.92 on Monday. The company has a 50-day simple moving average of $11.83 and a two-hundred day simple moving average of $8.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.62. The firm has a market capitalization of $10.92 billion, a PE ratio of 278.46 and a beta of 1.25. Equinox Gold has a one year low of $4.95 and a one year high of $14.27.

Institutional Investors Weigh In On Equinox Gold

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in Equinox Gold by 91.3% in the 3rd quarter. Van ECK Associates Corp now owns 96,024,048 shares of the company’s stock valued at $1,077,394,000 after acquiring an additional 45,820,861 shares in the last quarter. L1 Capital Pty Ltd raised its stake in shares of Equinox Gold by 120.4% in the second quarter. L1 Capital Pty Ltd now owns 23,908,865 shares of the company’s stock worth $137,476,000 after purchasing an additional 13,060,846 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Equinox Gold by 44,440.1% during the second quarter. Franklin Resources Inc. now owns 10,364,487 shares of the company’s stock valued at $59,850,000 after purchasing an additional 10,341,217 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its position in shares of Equinox Gold by 102.1% during the second quarter. Maple Rock Capital Partners Inc. now owns 14,308,748 shares of the company’s stock valued at $82,398,000 after buying an additional 7,229,260 shares during the last quarter. Finally, Ruffer LLP boosted its position in shares of Equinox Gold by 322.1% during the second quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock valued at $43,267,000 after buying an additional 5,722,871 shares during the last quarter. Institutional investors own 38.85% of the company’s stock.

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.