Equinox Gold Corp. Forecasted to Earn Q1 2024 Earnings of ($0.03) Per Share (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Investment analysts at Cormark reduced their Q1 2024 earnings estimates for Equinox Gold in a research report issued to clients and investors on Monday, April 22nd. Cormark analyst R. Gray now expects that the company will post earnings per share of ($0.03) for the quarter, down from their prior estimate of $0.01. The consensus estimate for Equinox Gold’s current full-year earnings is $0.12 per share.

A number of other brokerages have also weighed in on EQX. Desjardins upgraded shares of Equinox Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of Equinox Gold in a report on Monday, April 8th.

Equinox Gold Trading Down 8.6 %

Shares of EQX stock opened at $5.23 on Wednesday. Equinox Gold has a 52-week low of $3.95 and a 52-week high of $6.50. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 58.11 and a beta of 1.32. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32.

Equinox Gold (NYSEAMERICAN:EQX) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Equinox Gold had a return on equity of 0.69% and a net margin of 2.65%. The company had revenue of $297.80 million during the quarter.

Hedge Funds Weigh In On Equinox Gold

A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Equinox Gold by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 31,940,259 shares of the company’s stock valued at $156,182,000 after acquiring an additional 900,084 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Equinox Gold by 52.1% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,530,311 shares of the company’s stock worth $46,603,000 after purchasing an additional 3,262,602 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Equinox Gold by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,413,329 shares of the company’s stock valued at $39,818,000 after buying an additional 86,481 shares in the last quarter. Sprott Inc. boosted its position in Equinox Gold by 3.2% in the 3rd quarter. Sprott Inc. now owns 8,405,867 shares of the company’s stock valued at $35,440,000 after buying an additional 262,591 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Equinox Gold by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,840,693 shares of the company’s stock valued at $33,452,000 after buying an additional 412,402 shares during the period. 38.85% of the stock is owned by hedge funds and other 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.