Cormark Has Bearish Outlook for Equinox Gold FY2024 Earnings

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Equinox Gold in a report released on Monday, October 21st. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.27 for the year, down from their previous forecast of $0.37. The consensus estimate for Equinox Gold’s current full-year earnings is $0.41 per share.

Equinox Gold Stock Up 2.3 %

NYSEAMERICAN EQX opened at $6.02 on Wednesday. The firm has a market cap of $2.58 billion, a PE ratio of 12.03 and a beta of 1.31. 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.

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

Hedge Funds Weigh In On Equinox Gold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kings Path Partners LLC bought a new position in shares of Equinox Gold during the second quarter valued at about $27,000. Continuum Advisory LLC bought a new position in Equinox Gold during the 2nd quarter valued at approximately $29,000. &PARTNERS purchased a new stake in Equinox Gold in the 1st quarter worth approximately $60,000. Veracity Capital LLC bought a new stake in shares of Equinox Gold in the 3rd quarter worth approximately $61,000. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Equinox Gold during the third quarter valued at approximately $61,000. 38.85% of the stock is currently owned by 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.