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

Equinox Gold Corp. (NYSEAMERICAN:EQX) – Equities researchers at Desjardins issued their Q1 2024 EPS estimates for Equinox Gold in a research report issued on Tuesday, April 23rd. Desjardins analyst J. Sclodnick forecasts that the company will post earnings of ($0.06) per share for the quarter. Desjardins has a “Buy” rating on the stock. The consensus estimate for Equinox Gold’s current full-year earnings is $0.12 per share.

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

Equinox Gold Stock Up 0.4 %

Shares of NYSEAMERICAN:EQX opened at $5.25 on Thursday. Equinox Gold has a one year low of $3.95 and a one year high of $6.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.74 and a quick ratio of 0.88. The stock has a market capitalization of $1.73 billion, a PE ratio of 58.33 and a beta of 1.32.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its holdings 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 valued at $21,401,000 after purchasing an additional 1,625,994 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Equinox Gold by 328.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 999,780 shares of the company’s stock valued at $4,888,000 after buying an additional 766,250 shares during the period. American Century Companies Inc. lifted its stake in shares of Equinox Gold by 3,396.3% during the third quarter. American Century Companies Inc. now owns 1,397,829 shares of the company’s stock valued at $5,904,000 after buying an additional 1,357,849 shares during the period. Van ECK Associates Corp lifted its stake in shares of Equinox Gold by 4.3% during the third quarter. Van ECK Associates Corp now owns 31,040,175 shares of the company’s stock valued at $131,296,000 after buying an additional 1,292,168 shares during the period. Finally, CenterBook Partners LP raised its stake in Equinox Gold by 26.6% during the third quarter. CenterBook Partners LP now owns 1,855,635 shares of the company’s stock worth $7,849,000 after purchasing an additional 389,521 shares during the period. 38.85% of the stock is currently 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.