FY2024 EPS Estimates for Equinox Gold Cut by Scotiabank

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Stock analysts at Scotiabank cut their FY2024 earnings per share estimates for Equinox Gold in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings per share of $0.22 for the year, down from their previous estimate 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 (NYSEAMERICAN:EQX) last issued its quarterly 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). The business had revenue of $428.40 million for the quarter, compared to the consensus estimate of $437.84 million. Equinox Gold had a return on equity of 0.69% and a net margin of 19.83%. Equinox Gold’s quarterly revenue was up 50.5% on a year-over-year basis.

Equinox Gold Price Performance

Equinox Gold stock opened at $6.10 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.33. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 12.45 and a beta of 1.31. Equinox Gold has a 1 year low of $3.95 and a 1 year high of $6.50.

Institutional Investors Weigh In On Equinox Gold

Several institutional investors have recently bought and sold shares of EQX. National Bank of Canada FI lifted its stake in shares of Equinox Gold by 15.3% during the third quarter. National Bank of Canada FI now owns 2,288,413 shares of the company’s stock worth $13,938,000 after buying an additional 303,904 shares during the period. Stifel Financial Corp acquired a new position in shares of Equinox Gold in the third quarter valued at about $1,388,000. Van ECK Associates Corp lifted its holdings in shares of Equinox Gold by 7.7% during the third quarter. Van ECK Associates Corp now owns 41,121,033 shares of the company’s stock worth $247,549,000 after purchasing an additional 2,954,174 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Equinox Gold by 34.4% in the third quarter. Maple Rock Capital Partners Inc. now owns 9,169,400 shares of the company’s stock valued at $55,842,000 after buying an additional 2,349,000 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its position in Equinox Gold by 35.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 18,050,439 shares of the company’s stock worth $109,927,000 after buying an additional 4,727,570 shares during the last quarter. 38.85% of the stock is currently 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.