Scotiabank Decreases Earnings Estimates for Equinox Gold

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Stock analysts at Scotiabank cut their FY2024 earnings estimates for shares of Equinox Gold in a report released on Wednesday, January 8th. Scotiabank analyst O. Habib now forecasts that the company will post earnings of $0.22 per share for the year, down from their previous forecast of $0.56. The consensus estimate for Equinox Gold’s current full-year earnings is $0.43 per share. Scotiabank also issued estimates for Equinox Gold’s FY2025 earnings at $0.49 EPS and FY2026 earnings at $0.73 EPS.

Equinox Gold Price Performance

NYSEAMERICAN:EQX opened at $5.98 on Monday. The company has a market cap of $2.72 billion, a P/E ratio of 12.20 and a beta of 1.31. Equinox Gold has a 1-year low of $3.95 and a 1-year high of $6.50. The company has a quick ratio of 0.33, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, November 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. The company had revenue of $428.40 million for the quarter, compared to analyst estimates of $437.84 million. The business’s revenue was up 50.5% on a year-over-year basis.

Institutional Trading of Equinox Gold

Large investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC bought a new stake in Equinox Gold during the third quarter worth $43,000. Joel Isaacson & Co. LLC bought a new stake in shares of Equinox Gold during the 3rd quarter worth $61,000. Synovus Financial Corp bought a new stake in shares of Equinox Gold during the 3rd quarter worth $61,000. Veracity Capital LLC acquired a new stake in Equinox Gold in the third quarter valued at about $61,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Equinox Gold in the third quarter valued at about $110,000. 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.