Cormark Issues Negative Forecast for Equinox Gold Earnings

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Analysts at Cormark dropped their Q4 2024 EPS estimates for Equinox Gold in a research report issued on Monday, October 21st. Cormark analyst R. Gray now expects that the company will post earnings of $0.15 per share for the quarter, down from their previous forecast of $0.23. The consensus estimate for Equinox Gold’s current full-year earnings is $0.41 per share.

Equinox Gold Trading Down 3.8 %

Shares of NYSEAMERICAN EQX opened at $5.63 on Thursday. The company has a quick ratio of 0.45, a current ratio of 1.10 and a debt-to-equity ratio of 0.42. Equinox Gold has a 52 week low of $3.95 and a 52 week high of $6.50. The stock has a market capitalization of $2.41 billion, a P/E ratio of 11.26 and a beta of 1.31.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Equinox Gold had a net margin of 22.60% and a return on equity of 0.42%. The firm had revenue of $269.43 million during the quarter.

Hedge Funds Weigh In On Equinox Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQX. Kings Path Partners LLC acquired a new position in Equinox Gold during the second quarter worth about $27,000. Continuum Advisory LLC acquired a new position in shares of Equinox Gold in the second quarter valued at approximately $29,000. Veracity Capital LLC acquired a new position in shares of Equinox Gold in the third quarter valued at approximately $61,000. Joel Isaacson & Co. LLC acquired a new position in shares of Equinox Gold in the third quarter valued at approximately $61,000. Finally, Advisor Resource Council acquired a new position in shares of Equinox Gold in the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

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.