Equinox Gold Corp. EQX

11.94 0.21 1.79% as of 25 Sep
Market cap
$13.7B
P/E
11.5×
Growth Flags show if company had growth for consecutive years

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios

Market Cap 13,740.00
Revenue 2,897.06
Net Income 813.83
Free Cash Flow 262.30
Net Debt 101.42
Current Ratio 1.33
Debt/Equity 0.09
P/E ratio 11.48
P/S ratio 3.26
P/B ratio 1.48
Past 5Y EPS Growth 8.87%
This Y EPS Growth 72.93%
Next Y EPS Growth 26.54%
Next 5Y EPS Growth 37.86%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.05
0.02
0.02
0.02
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 302 245 570 482
Receivables 82 70 65 74
Inventory 412 418 370 436
Other 2 7 11 2
834 784 1,971 1,030
2023 2024 2025 Q'26
Payables 247 258 302 327
ST’ Debt 139 136 181 29
Other 55 169 267 231
480 689 1,262 774
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — 16.54% 24.04%
Cash Flow — 26.19% 143.80%
Earnings — 58.29% 0.00%
Book Value — 31.96% 35.07%

Revenue

Mar Jun Sep Dec Year
’26 862 770 — — —
’25 266 286 819 447 1,817
’24 241 269 428 — 913
’23 234 272 285 298 1,088
’22 223 225 245 259 952
’21 230 226 245 381 1,082
’20 130 215 244 253 845
in millions of $ · fiscal quarters ending in the months shown
value withheld pending a data check

Operating Cash Flow

Mar Jun Sep Dec Year
’26 237 203 — — —
’25 54 133 241 390 818
’24 18 (33) 139 248 372
’23 143 20 69 126 358
’22 (16) (27) 54 46 56
’21 79 21 65 155 321
’20 3 94 69 51 256
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 52 (1) — — —
’25 (39) 37 5 206 209
’24 (87) (121) (689) 113 (784)
’23 15 (91) (78) (11) (165)
’22 (140) (116) (97) (94) (447)
’21 8 27 (16) 48 67
’20 24 55 23 3 143
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.39 0.25 — — —
’25 (0.17) 0.05 0.11 0.25 0.35
’24 (0.13) 0.61 0.00 0.06 0.72
’23 0.05 0.02 0.01 0.01 0.09
’22 (0.07) (0.26) (0.10) 0.07 (0.35)
’21 0.14 0.96 (0.03) 0.32 1.67
’20 0.04 (0.26) 0.01 0.31 0.10
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — — 3.65 4.63 5.90 2.35 3.32 3.95 5.04

Analyst estimates 2026–2028

Powerpack
Low Price
— — — 8.18 13.66 11.24 9.07 5.85 6.50 15.10
High Price
— — 491 — 3,433 3,405 3,317 3,692 3,692 5,219
Employees
0 — 0 0 0 0 0 0 0 0
Revenue/Emp
1 — 29 282 845 1,082 952 1,088 913 1,817
Revenue
(300.00%) 0.00% (17.95%) 29.77% 34.33% 21.31% 8.92% 10.02% 22.58% 35.38%
Gross Margin
(3) (13) (35) (13) 43 535 (98) 15 533 131
EBT
(400.00%) 0.00% (123.08%) (4.68%) 5.10% 49.44% (10.33%) 1.36% 58.42% 7.23%
EBT Margin
(2) 0 0 (20) 22 555 (106) 29 339 221
Net Income
0 — 5 39 152 198 189 216 208 359
Depreciation
0.15 0.00 0.31 2.52 3.98 3.80 3.13 3.48 2.28 2.88
Revenue/Sh
(0.44) (0.58) (0.68) (0.16) 0.10 1.95 (0.35) 0.09 0.85 0.35
Earnings/Sh
(1.37) (0.93) (0.24) 0.53 1.20 1.13 0.19 1.15 0.93 1.30
Cash Flow/Sh
0.00 0.00 0.00 (0.86) (0.53) (0.89) (1.66) (1.67) (2.89) (0.97)
Capex/Sh
(1.37) (0.93) (0.24) (0.33) 0.67 0.24 (1.47) (0.53) (1.96) 0.33
Free CF/Sh
13.19 11.56 4.31 3.60 6.82 9.07 7.74 7.81 8.49 9.19
Book Value/Sh
5 31 92 112 212 285 304 313 400 630
Shares
0.00 — 0.00 0.00 63.13 4.09 0.00 48.40 7.71 58.50
PE Ratio
0.00 — 0.00 0.00 2.97 1.78 1.14 1.35 2.20 4.87
PS Ratio
0.00 — 0.00 2.16 1.73 0.75 0.46 0.60 0.59 1.53
PB Ratio
0.00 — 0.00 0.00 3.21 1.66 1.75 1.92 3.41 5.41
EV/Sales
0.00 — 0.00 0.00 25.63 26.80 (3.72) (12.70) (3.97) 47.00
EV/FCF
(7) (29) (22) 60 256 321 56 358 372 818
Op' Cash Flow
0 (22) (98) (97) (113) (254) (504) (523) (1,156) (609)
Capex
(7) (29) (22) (37) 143 67 (447) (165) (784) 209
FCF
44 51 18 17 423 761 383 354 95 709
Working Cap'
— 44 218 264 545 541 850 925 1,348 1,555
Total Debt
(41) (22) 154 196 197 (130) 576 623 1,102 985
Net Debt
66 358 396 403 1,449 2,585 2,352 2,442 3,398 5,795
Sh' Equity
(0.77%) (41.06%) 0.00% (4.37%) 1.27% 16.71% (2.71%) 0.70% 6.13% 2.57%
ROA
0.00% 0.00% 0.00% 5.75% 6.57% 3.73% 0.22% 1.01% 2.11% 3.99%
ROIC
(1.05%) (8.67%) (16.56%) (4.59%) 2.41% 27.51% (4.30%) 1.20% 11.62% 4.82%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Equinox Gold Corp. peers in Gold

All 37 Gold stocks →

Equinox Gold Corp. (EQX) key facts

  • Equinox Gold Corp. (EQX) is a Gold company in the Basic Materials sector, listed on NYSE American.
  • As of September 25, 2026, EQX traded at $11.94, a market capitalization of $13.7 billion.
  • Return on equity was 4.82% and debt-to-equity 0.09.

Source: company filings (standardised) and stockrow calculations.

Equinox Gold Corp. (EQX) Latest News

News by impact score

Fine-tune

21 Sep

3

Equinox Gold says it elected to redeem all $172.5 million of its 4.75% Convertible Senior Notes due October 2028. Redemption occurs October 20, 2026, with a conversion deadline of October 19, 2026 at 5:00 p.m. New York time. The redemption price is 100% of principal plus accrued interest, about $1,000.66 per $1,000 note; payment will be through DTC with Computershare as paying agent. Holders may convert before the deadline; conversion rate is 158.7302 shares per $1,000 as of Sept. 18, 2026, rising to 165.0732 after adjustments, meaning up to 28,475,124 shares (roughly 2.44% of outstanding) if all convert. The release notes it is not a redemption or conversion notice and includes standard forward-looking statements. Redemption lowers potential dilution and interest burden while using cash, framing a mid-term capital-structure adjustment.

17 Aug

4

Equinox Gold receives positive Record of Decision for South Railroad project. This marks a key permitting milestone unlocking the company's next North American growth project. Positive Record of Decision for South Railroad directly enables major new project development and expands long-term production capacity.

12 Aug

4 transcript

Equinox Gold (EQX) held its Q2 2026 earnings call, covering quarterly financial results, operations, and forward guidance. Earnings call delivers quarterly results and outlook that move EQX valuation and investor positioning.

9 Aug

3 transcript

Equinox Gold Q2 earnings call highlighted financial performance, gold production volumes, operational efficiencies, and strategic initiatives affecting the company's mining assets. Q2 earnings details provide insights into financial health and operational results impacting short-term market performance.

6 Aug

4

Equinox Gold reported strong Q2 results and raised its dividend 50 percent, pushing shares up 14.3 percent while investors assess whether the bull case has changed. Strong Q2 results and 50 percent dividend hike produced a 14.3 percent stock gain that signals material improvement in financial performance and investor sentiment.

3

Equinox Gold (TSX:EQX) may be 43% undervalued after its latest earnings release and dividend increase. Earnings results and dividend hike signal improved financial position likely to affect near-term stock sentiment and valuation.

3 transcript

Equinox Gold Corp. released its Q2 2026 earnings call summary covering financial results, production figures and operational updates. Earnings call data supplies quarterly metrics and guidance that can shift near-term investor views without guaranteeing structural change.

5 Aug

4

Equinox Gold reported strong second quarter results, completed the Orla Mining merger, raised 2026 production guidance, and increased its quarterly dividend by 50%. Merger completion with Orla Mining and raised production guidance represent major strategic expansion with direct positive effects on long-term output and investor returns.

31 Jul

5

Equinox Gold and Orla Mining completed their business combination, forming North America's new senior gold producer. Merger with Orla Mining creates a larger senior gold producer and fundamentally redefines Equinox Gold's scale and competitive position.

5

Equinox Gold and Orla Mining completed their business combination, forming North America's new senior gold producer. Merger with Orla Mining creates a new senior gold producer and fundamentally enlarges Equinox Gold's scale and competitive position.

28 Jul

4

Orla Mining receives court approval for business combination with Equinox Gold Corp. Court approval advances merger with Orla Mining as major strategic move for Equinox Gold.

23 Jul

4

Equinox Gold shareholders approved the Orla Mining deal with 99.7% backing. Strong approval clears path for major acquisition that alters company scale and trajectory.

22 Jul

4

Equinox Gold shareholders approve business combination with Orla Mining. Shareholder approval enables major business combination that alters Equinox Gold operational scale and market position.

4

Orla shareholders overwhelmingly approve business combination with Equinox Gold. Business combination approval advances Equinox Gold strategic expansion via acquisition.

12 Jul

3

Equinox Gold (EQX) is assessed for potential explosive stock growth over the next two years amid gold market conditions and company operations. Speculative growth outlook may moderately affect investor sentiment and near-term share performance without confirmed transformative events.

10 Jul

4

Independent proxy advisory firms recommend Equinox Gold shareholders vote FOR the share issuance resolution tied to its proposed business combination with Orla Mining. Proposed business combination with Orla Mining marks a major strategic move that can significantly reshape Equinox Gold's scale and market position.

4

Independent proxy advisory firms recommend Orla shareholders vote FOR the arrangement resolution approving the proposed business combination with Equinox Gold. Positive proxy recommendation advances Equinox Gold's key merger strategy and expands its operational scale.

9 Jul

4

Equinox Gold Corp. sold its Versamet Royalties stake for C$130 million. C$130M Versamet Royalties stake sale delivers major capital inflow altering Equinox Gold's financial position.

4 Jul

4

Equinox Gold cleared a major roadblock, raising prospects for sharp gains in EQX stock. Clearing a major roadblock marks a significant operational advance that can materially improve Equinox Gold's trajectory and sentiment.

29 Jun

4

Equinox Gold pursues Los Filos land deal that may reframe its long-term portfolio strategy. Los Filos land deal represents major strategic move likely to alter Equinox Gold trajectory and investor sentiment.

25 Jun

4

Equinox Gold signed 20-year land access agreements for its Los Filos mine in Mexico. 20-year land access deals secure long-term Los Filos operations and reduce future risks.

4

Equinox Gold secures long-term land access agreements with all three communities at Los Filos Mine. Planning and technical work underway to support mine restart and annual production expansion. Long-term land agreements enable restart and production expansion at Los Filos mine, directly supporting higher future output.

23 Jun

4

Equinox Gold filed and mailed meeting materials for a special shareholder meeting to approve its business combination with Orla Mining. Business combination with Orla Mining represents a major strategic move that could significantly alter Equinox Gold's operations and market position.

3

Orla Mining received interim order and filed meeting materials for special shareholder meeting to approve arrangement with Equinox Gold Corp. Procedural step advances potential arrangement that may moderately affect EQX expansion and market positioning.

12 Jun

4

Equinox Gold merges with Orla, reshaping operational scale along with associated risks and investment opportunities. Merger with Orla represents major strategic move that alters Equinox Gold's trajectory.

8 Jun

4

EQX engages in a deal with ORLA that could create a major gold mining company. ORLA deal represents a major strategic move that can significantly alter EQX trajectory.

27 May

3

Labour violations and criminal allegations have surfaced at Equinox Gold's Mexican mine, prompting the Steelworkers union to demand intervention by the Canadian government. Labour and criminal allegations at the Mexican mine risk triggering regulatory scrutiny, possible operational halts and negative investor reaction.

19 May

4

Equinox Gold Corp. and Orla Mining announce at-market merger agreement. Merger with Orla Mining constitutes major strategic move that will expand Equinox Gold operations and shift its competitive trajectory.

18 May

3

Orla Mining acquires a stake in Equinox Gold Corp, abandoning solo growth to join a larger gold producer. Orla Mining stake purchase adds capital and visibility to Equinox Gold operations.

14 May

4

Equinox Gold Corp. (EQX) shares plunged 7.3% following the announcement of a $5.1 billion acquisition of Orla Mining, sparking investor concerns over financing, dilution, and integration risks amid volatile gold prices. The $5.1 billion Orla acquisition is a major strategic expansion that could reshape Equinox Gold's production profile and financial structure, significantly influencing long-term performance and investor sentiment.

stockrow.com/EQX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com