FY2024 Earnings Estimate for Equinox Gold Corp. Issued By Desjardins (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) - Research analysts at Desjardins lifted their FY2024 earnings estimates for shares of Equinox Gold in a research report issued to clients and investors on Sunday, April 28th. Desjardins analyst J. Sclodnick now expects that the company will earn $0.43 per share for the year, up from their previous forecast of $0.01. Desjardins currently has a "Buy" rating on the stock. The consensus estimate for Equinox Gold's current full-year earnings is $0.12 per share. Desjardins also issued estimates for Equinox Gold's FY2025 earnings at $1.06 EPS and FY2026 earnings at $0.74 EPS.

Separately, National Bank Financial upgraded shares of Equinox Gold from a "sector perform spec overwgt" rating to an "outperform overweight" rating in a research report on Friday, April 26th.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX traded up $0.02 during midday trading on Wednesday, reaching $5.44. The stock had a trading volume of 5,503,542 shares, compared to its average volume of 2,927,872. Equinox Gold has a 1-year low of $3.95 and a 1-year high of $6.50. The company has a current ratio of 1.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.79 billion, a PE ratio of 60.39 and a beta of 1.32.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. Equinox Gold had a net margin of 2.65% and a return on equity of 0.69%. The company had revenue of $297.80 million for the quarter.

Hedge Funds Weigh In On Equinox Gold

Institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in shares of Equinox Gold by 58.6% in the fourth quarter. Mackenzie Financial Corp now owns 4,401,254 shares of the company's stock worth $21,401,000 after acquiring an additional 1,625,994 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Equinox Gold by 328.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 999,780 shares of the company's stock worth $4,888,000 after buying an additional 766,250 shares during the period. American Century Companies Inc. grew its position in shares of Equinox Gold by 3,396.3% during the 3rd quarter. American Century Companies Inc. now owns 1,397,829 shares of the company's stock worth $5,904,000 after buying an additional 1,357,849 shares during the period. Van ECK Associates Corp grew its position in shares of Equinox Gold by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 31,040,175 shares of the company's stock worth $131,296,000 after buying an additional 1,292,168 shares during the period. Finally, CenterBook Partners LP grew its position in shares of Equinox Gold by 26.6% during the 3rd quarter. CenterBook Partners LP now owns 1,855,635 shares of the company's stock worth $7,849,000 after buying an additional 389,521 shares during the period. 38.85% of the stock is owned by institutional investors.

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.