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Equinox Gold Corp. logo

Equinox Gold Corp.

EQX

AMEXBasic MaterialsGold

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Previous close

$13.53

+$0.65 · +5.05%

Aug 21, 4:00 PM ET

Pre-market

$13.70

+$0.17 · +1.26%

Aug 24, 6:22 AM ET

EQX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

73

Undervalued

Momentum

21

Weakening

Sentiment

63

Bullish

Risk resilience

25

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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Company profile

Company website

Equinox Gold Corp. is a mining enterprise that covers the entire spectrum of mineral property management, from acquisition and exploration to development and active operation. The company primarily targets gold and silver deposits in its exploration efforts. Its asset portfolio is geographically diverse, featuring several significant gold mines in Brazil, such as Aurizona in Maranhão State, RDM in Minas Gerais State, and both Fazenda and Santa Luz in Bahia State. Expanding its footprint into North America, Equinox Gold also holds stakes in the Mesquite gold mine and the Castle Mountain property in California, USA, alongside the Los Filos Gold Mine located in Guerrero State, Mexico. Additionally, the company possesses a 60% ownership interest in the Greenstone project, situated in Ontario, Canada. Established in 2007, the company originally operated under the name Trek Mining Inc. before officially changing to Equinox Gold Corp. in December 2017. Its corporate headquarters are located in Vancouver, Canada.

Industry
Gold
Sector
Basic Materials
Headquarters
CA
CEO
Darren Hall
Listed since
Jan 2, 2019
Employees
3,692

Market position

Day range

Current $13.53

52-week range

Current $13.53

Open
$13.26
Previous close
$12.88
Volume
15.95M
1.26× average
Average volume
12.64M
Average daily volume
Market cap
10.68B USD
Beta
2.4
Market reference 1
50-day average
$10.212
+32.49% above average
200-day average
$13.2176
+2.36% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
9.99B USD
P/E (TTM)
12.89×
P/B (TTM)
1.68×
P/S (TTM)
4.14×
EV / EBITDA
11.86×
Earnings yield
2.55%
Free cash flow yield
-0.08%
Dividend yield
0.39%

Profitability & efficiency

Gross margin
39.13%
Operating margin
37.94%
Net margin
31.72%
Return on equity
3.90%
Return on assets
2.14%
Return on invested capital
-0.67%

Financial health

Debt / equity
0.09×
Current ratio
1.56×
Altman Z-score
2.66
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends58%33%8%-17%Gross margin, FY2021: 21.31%Gross margin, FY2022: 8.92%Gross margin, FY2023: 10.02%Gross margin, FY2024: 20.08%Gross margin, FY2025: 24.99%Operating margin, FY2021: 13.53%Operating margin, FY2022: 1.09%Operating margin, FY2023: 4.56%Operating margin, FY2024: 15.72%Operating margin, FY2025: 23.79%Net margin, FY2021: 51.27%Net margin, FY2022: -11.13%Net margin, FY2023: 2.65%Net margin, FY2024: 22.41%Net margin, FY2025: 12.19%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 21.31%. Gross margin FY2022 8.92%. Gross margin FY2023 10.02%. Gross margin FY2024 20.08%. Gross margin FY2025 24.99%. Operating margin FY2021 13.53%. Operating margin FY2022 1.09%. Operating margin FY2023 4.56%. Operating margin FY2024 15.72%. Operating margin FY2025 23.79%. Net margin FY2021 51.27%. Net margin FY2022 -11.13%. Net margin FY2023 2.65%. Net margin FY2024 22.41%. Net margin FY2025 12.19%.

Income trends

Revenue

1.85B USD+22.12%

Operating income

439.91M USD+84.86%

Net income

225.35M USD-33.58%
Income trends across reported periods2.04B USD1.26B USD480.48M USD−301.53M USDRevenue, FY2021: 1.08B USDRevenue, FY2022: 952.2M USDRevenue, FY2023: 1.09B USDRevenue, FY2024: 1.51B USDRevenue, FY2025: 1.85B USDOperating income, FY2021: 146.47M USDOperating income, FY2022: 10.39M USDOperating income, FY2023: 49.62M USDOperating income, FY2024: 237.96M USDOperating income, FY2025: 439.91M USDNet income, FY2021: 554.89M USDNet income, FY2022: −106.03M USDNet income, FY2023: 28.88M USDNet income, FY2024: 339.29M USDNet income, FY2025: 225.35M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 1.08B USD. Revenue FY2022 952.2M USD. Revenue FY2023 1.09B USD. Revenue FY2024 1.51B USD. Revenue FY2025 1.85B USD. Operating income FY2021 146.47M USD. Operating income FY2022 10.39M USD. Operating income FY2023 49.62M USD. Operating income FY2024 237.96M USD. Operating income FY2025 439.91M USD. Net income FY2021 554.89M USD. Net income FY2022 −106.03M USD. Net income FY2023 28.88M USD. Net income FY2024 339.29M USD. Net income FY2025 225.35M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue1.85B USD1.51B USD1.09B USD952.2M USD1.08B USD
Cost of goods sold1.39B USD1.21B USD979.21M USD867.23M USD851.7M USD
Gross profit462.16M USD304.05M USD108.98M USD84.97M USD230.59M USD
Selling, general, and administrative16.06M USD50.91M USD45.17M USD45.65M USD51.35M USD
Operating expenses22.25M USD66.08M USD59.36M USD74.58M USD84.12M USD
Interest income11.14M USD7.67M USD11.69M USD5.61M USD2.82M USD
Interest expense182.43M USD95.38M USD60.2M USD40.35M USD41.55M USD
Depreciation and amortization526.58M USD222.62M USD216.12M USD188.84M USD198.13M USD
Operating income439.91M USD237.96M USD49.62M USD10.39M USD146.47M USD
Net income225.35M USD339.29M USD28.88M USD−106.03M USD554.89M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 5 misses, 2 met estimates
Average EPS surprise
+22.29%
11 comparable reports
Latest EPS result
0.15
Estimate 0.17 · Miss by 12.23%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.380.18-0.01-0.21Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MetQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 0.17, estimate 0.18, surprise -5.56%, Miss. Q2 2025, reported May 7, 2025: actual -0.17, estimate 0.14, surprise -221.43%, Miss. Q3 2025, reported Aug 13, 2025: actual 0.11, estimate 0.029, surprise +280.89%, Beat. Q4 2025, reported Nov 5, 2025: actual 0.11, estimate 0.11, surprise 0.00%, Met estimate. Q1 2026, reported Feb 18, 2026: actual 0.34, estimate 0.214, surprise +58.88%, Beat. Q2 2026, reported May 6, 2026: actual 0.28, estimate 0.29, surprise -3.45%, Miss. Q3 2026, reported Aug 5, 2026: actual 0.15, estimate 0.171, surprise -12.23%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 0.28, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates1.08B838.54M596.1M353.66MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 19, 2025: actual 574.98M USD, estimate 434M USD, surprise +32.48%, Beat. Q2 2025, reported May 7, 2025: actual 423.72M USD, estimate 403.82M USD, surprise +4.93%, Beat. Q3 2025, reported Aug 13, 2025: actual 478.64M USD, estimate 486.65M USD, surprise -1.65%, Miss. Q4 2025, reported Nov 5, 2025: actual 819.01M USD, estimate 731.52M USD, surprise +11.96%, Beat. Q1 2026, reported Feb 18, 2026: actual 987.8M USD, estimate 951.45M USD, surprise +3.82%, Beat. Q2 2026, reported May 6, 2026: actual 861.59M USD, estimate 896.94M USD, surprise -3.94%, Miss. Q3 2026, reported Aug 5, 2026: actual 769.8M USD, estimate 775.79M USD, surprise -0.77%, Miss. Q4 2026, reported Nov 4, 2026: actual —, estimate 1.03B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$13.00

3.92% downside
Past 12 months12-month forecastHigh $13.00Average $13.00Low $13.00

Recent analyst actions

1 institution

Corporate actions

Corporate action history

Dividend

Ex-dividend Aug 19, 2026

$0.0225

Quarterly

Record Aug 19, 2026 · Payment Sep 2, 2026

Dividend

Ex-dividend May 21, 2026

$0.015

Quarterly

Record May 21, 2026 · Payment Jun 5, 2026

Dividend

Ex-dividend Mar 12, 2026

$0.015

Irregular

Record Mar 12, 2026 · Payment Mar 26, 2026

EQX peers

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NovaGold Resources Inc. logo

NG

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$8.72

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Trekor Metals Limited logo

TGB

Trekor Metals Limited

$9.19

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Silvercorp Metals Inc. logo

SVM

Silvercorp Metals Inc.

$12.53

-0.87%

Americas Gold and Silver Corporation logo

USAS

Americas Gold and Silver Corporation

$5.39

+2.67%

ETFs holding EQX

Funds reporting this stock among their holdings, ordered by reported position size.

VanEck Junior Gold Miners ETF logoVanEck Junior Gold Miners ETFGDXJ
Market value
683.35M
Weight
7.12%
AUM
9.86B USD
Expense ratio
0.52%
Price / 1D
$132.59+2.67%
VanEck Gold Miners ETF logoVanEck Gold Miners ETFGDX
Market value
517.19M
Weight
1.67%
AUM
31.98B USD
Expense ratio
0.51%
Price / 1D
$102.83+2.98%
American Beacon GLG Natural Resources ETF logoAmerican Beacon GLG Natural Resources ETFMGNR
Market value
35M
Weight
3.69%
AUM
915.55M USD
Expense ratio
0.75%
Price / 1D
$55.68+2.03%
Dimensional - International Value ETF logoDimensional - International Value ETFDFIV
Market value
13.63M
Weight
0.06%
AUM
22.06B USD
Expense ratio
0.27%
Price / 1D
$58.31+0.88%
Dimensional - International Core Equity 2 ETF logoDimensional - International Core Equity 2 ETFDFIC
Market value
10.52M
Weight
0.07%
AUM
15.43B USD
Expense ratio
0.22%
Price / 1D
$39.405+0.83%
Dimensional - International Core Equity Market ETF logoDimensional - International Core Equity Market ETFDFAI
Market value
5.8M
Weight
0.03%
AUM
18.23B USD
Expense ratio
0.18%
Price / 1D
$43.35+0.81%
Dimensional World ex U.S. Core Equity 2 ETF logoDimensional World ex U.S. Core Equity 2 ETFDFAX
Market value
5.06M
Weight
0.04%
AUM
12.57B USD
Expense ratio
0.28%
Price / 1D
$38.16+0.82%
Dimensional - International Small Cap ETF logoDimensional - International Small Cap ETFDFIS
Market value
2.26M
Weight
0.04%
AUM
5.91B USD
Expense ratio
0.39%
Price / 1D
$37.545+0.71%

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