Q1 2024 EPS Estimates for Equinox Gold Corp. Lowered by Cormark (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Investment analysts at Cormark reduced their Q1 2024 earnings estimates for shares of 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 of ($0.03) per share for the quarter, down from their previous estimate of $0.01. The consensus estimate for Equinox Gold’s current full-year earnings is $0.12 per share.

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

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

Equinox Gold Trading Up 1.1 %

Shares of NYSEAMERICAN:EQX opened at $5.74 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 1.74. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 63.72 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 Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Equinox Gold by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 31,940,259 shares of the company’s stock worth $156,182,000 after acquiring an additional 900,084 shares in the last quarter. Donald Smith & CO. Inc. raised its position in 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 acquiring an additional 3,262,602 shares in the last quarter. Vanguard Group Inc. raised its position in Equinox Gold by 0.9% in the third quarter. Vanguard Group Inc. now owns 9,413,329 shares of the company’s stock worth $39,818,000 after acquiring an additional 86,481 shares in the last quarter. Sprott Inc. raised its position in Equinox Gold by 3.2% in the third quarter. Sprott Inc. now owns 8,405,867 shares of the company’s stock worth $35,440,000 after acquiring an additional 262,591 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Equinox Gold by 6.4% in the fourth 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 in the last quarter. Hedge funds and other institutional investors 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.