Equinox Gold Corp. Forecasted to Earn Q1 2024 Earnings of ($0.06) Per Share (NYSEAMERICAN:EQX)

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Investment analysts at Desjardins issued their Q1 2024 earnings per share (EPS) estimates for Equinox Gold in a research note issued to investors on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the company will post earnings of ($0.06) per share for the quarter. 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.

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

Separately, National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of Equinox Gold in a report on Monday, April 8th.

Equinox Gold Trading Up 0.4 %

Shares of EQX opened at $5.25 on Thursday. Equinox Gold has a 12 month low of $3.95 and a 12 month high of $6.50. The company has a quick ratio of 0.88, a current ratio of 1.74 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.73 billion, a PE ratio of 58.33 and a beta of 1.32.

Institutional Investors Weigh In On Equinox Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQX. SG Americas Securities LLC lifted its stake in Equinox Gold by 13.5% in the 3rd quarter. SG Americas Securities LLC now owns 124,545 shares of the company’s stock valued at $527,000 after buying an additional 14,770 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Equinox Gold in the 3rd quarter worth approximately $84,000. Builder Investment Group Inc. ADV lifted its stake in Equinox Gold by 0.8% in the 3rd quarter. Builder Investment Group Inc. ADV now owns 945,475 shares of the company’s stock worth $3,999,000 after purchasing an additional 7,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Equinox Gold by 6.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 95,430 shares of the company’s stock worth $404,000 after purchasing an additional 6,021 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Equinox Gold by 24.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,169 shares of the company’s stock worth $301,000 after purchasing an additional 14,049 shares in the last quarter. 38.85% of the stock is owned by institutional investors and hedge funds.

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.