Latest news with #EQX
Yahoo
3 days ago
- Business
- Yahoo
Why Equinox Gold Corp. (EQX) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Equinox Gold Corp. (NYSEAmerican:EQX) stands against other Friday's worst-performing stocks. Equinox Gold dropped its share prices by 5.06 percent on Friday to finish at $6.94 apiece as investors unloaded portfolios amid the drop in spot prices of gold. On the same day, gold saw its spot prices decline by 1.26 percent to $3,310.42 per troy ounce, amid a profit-taking from the previous day's gains. Aerial view of a large-scale gold mine, showing the extent of the company's operations. In recent news, Equinox Gold Corp. (NYSEAmerican:EQX) entered into an agreement with Calibre Mining Corp. for their planned $1.8-billion merger. Under the transaction, Equinox Gold Corp. (NYSEAmerican:EQX) will acquire all of Calibre's issued and outstanding shares. The transaction is expected to boost Equinox Gold Corp.'s (NYSEAmerican:EQX) producing mines to nine from seven previously, alongside Calibre's Valentine project in Newfoundland, which is underway construction. Upon completion, Equinox Gold Corp. (NYSEAmerican:EQX) is set to become Canada's largest gold miner. The transaction is expected to be closed this month. Overall, EQX ranks 5th on our list of Friday's worst-performing stocks. While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
08-05-2025
- Business
- Yahoo
Equinox Gold: Q1 Earnings Snapshot
VANCOUVER, British Columbia (AP) — VANCOUVER, British Columbia (AP) — Equinox Gold Corp. (EQX) on Wednesday reported a loss of $75.5 million in its first quarter. On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 17 cents. Losses, adjusted for non-recurring costs, came to 8 cents per share. The gold miner posted revenue of $423.7 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on EQX at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Why Equinox Gold Corp. (EQX) Soared on Monday
We recently published a list of Why These 10 Firms Soared on Monday. In this article, we are going to take a look at where Equinox Gold Corp. (NYSEAmerican:EQX) stands against other Monday's best performers. The stock market kicked off the trading week on a negative note as investors sold off on a new round of uncertainties from President Donald Trump's tariff policies. The Nasdaq fell by 0.74 percent, while the S&P 500 dropped 0.64 percent and the Dow Jones was down by 0.24 percent. Over the weekend, Trump told reporters that the US was negotiating with many countries, 'but at the end of this, I'll set my own deals — because I set the deal, they don't set the deal.' He added that he had no intentions to talk with Chinese President Xi Jinping, dampening hopes of a potential negotiation between the two of the world's largest economies. Beyond the major indices, 10 companies stood out with strong gains amid a flurry of fresh developments. In this article, we name Monday's 10 best performers and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume. Why Equinox Gold Corp. (EQX) Soared on Monday Aerial view of a large-scale gold mine, showing the extent of the company's operations. Equinox Gold Corp. (NYSEAmerican:EQX) Equinox Gold rallied by 3.99 percent on Monday to end at $6.52 each in line with the surge in gold prices and ahead of the release of its earnings performance on Wednesday, May 7. According to the company, it is scheduled to announce the results of its operations after market close on Wednesday, followed by a conference call to elaborate on the highlights at 10:30 AM ET on Thursday, May 8. Meanwhile, Equinox Gold Corp. (NYSEAmerican:EQX) surged in line with higher gold prices, which as of this writing were up by 2.76 percent at $3,329.86 per ounce. In recent news, shareholders of Calibre Mining Corp. gave their green light for the company's planned $1.8-billion merger with Equinox Gold Corp. (NYSEAmerican:EQX). Under the transaction, Equinox Gold Corp. (NYSEAmerican:EQX) will acquire all of Calibre's issued and outstanding shares. Following the approval, Calibre will now seek a final order from the Supreme Court of British Columbia to approve the arrangement at a hearing expected to be held on Wednesday, May 6. Overall, EQX ranks 6th on our list of Monday's best performers. While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EQX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
Yahoo
29-03-2025
- Business
- Yahoo
Why Equinox Gold Corp. (EQX) Surged On Thursday?
We recently published a list of . In this article, we are going to take a look at where Equinox Gold Corp. (NYSEAMERICAN:EQX) stands against other stocks that jumped, defying market uncertainties on Thursday. The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally. The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent. The broader market decline was mainly weighed down by shares in automakers following President Donald Trump's announcement of a 25-percent tariff on all vehicles imported to the US. Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties. In this article, we listed Thursday's 10 best performers and detailed the reasons behind their gains. To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume. Aerial view of a large-scale gold mine, showing the extent of the company's operations. Equinox Gold grew its share prices by 3.95 percent on Thursday to end at $7.10 apiece in line with gold's new all-time high as investors set sights on safer assets to minimize risks from the ongoing trade tensions. As of Thursday, 4:19 pm ET, the spot prices of gold were up by 1.19 percent at $3,055.64 per ounce. This marked as the 17th time it hit a record high this year. EQX is a leading gold producer with operations in the US, Canada, Mexico, and Brazil. Last month, the company was able to produce 213,960 ounces of gold in the fourth quarter of 2024 and 621,870 ounces for the full year. Its Greenstone mine, which it now fully controls, contributed 111,710 ounces in its first partial year of operations after achieving commercial production. EQX also said it ended the year with approximately $240 million in cash and equivalents and $105 million available to draw on its revolving credit facility, as well as another $100 million undrawn accordion feature. During the fourth quarter, the company was able to slash its debt by $180 million with the payment of the final $40 million due to Orion Mine Finance for the purchase of its 40 percent interest in Greenstone and with the conversion to equity by the holders of $140 million in convertible notes. Overall, EQX ranks 9th on our list of stocks that jumped, defying market uncertainties on Thursday. While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as EQX but trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
21-02-2025
- Business
- Yahoo
Equinox Gold Corp (EQX) Q4 2024 Earnings Call Highlights: Record Production and Strategic Challenges
Quarterly Gold Production: 214,000 ounces. Quarterly Gold Sales: 218,000 ounces. Quarterly Revenue: $575 million. Cash Cost per Ounce (Q4): $1,458. All-in Sustaining Cost per Ounce (Q4): $1,652. Annual Gold Production (2024): 622,000 ounces. Annual Gold Sales (2024): 623,000 ounces. Annual Cash Cost per Ounce (2024): $1,598. Annual All-in Sustaining Cost per Ounce (2024): $1,870. Net Income (Q4): $28 million. Adjusted Net Income (Q4): $77 million. EBITDA (Q4): $185 million. Adjusted EBITDA (Q4): $218 million. Cash Flow from Operations (Q4): $213 million before changes in noncash working capital. Unrestricted Cash (End of Q4): $239 million. Debt Retired (2024): $180 million. Gold Price Realized (Q4): $2,636 per ounce. Greenstone Mine Production (Q4): 53,002 ounces. Greenstone All-in Sustaining Cost (Q4): $1,141 per ounce. Warning! GuruFocus has detected 10 Warning Signs with EQX. Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Equinox Gold Corp (EQX) achieved record quarterly gold production of approximately 214,000 ounces in Q4 2024, marking the highest in the company's history. The company reported a significant improvement in its S&P Global Corporate Sustainability Assessment score, increasing by over 13% compared to the previous year. Equinox Gold Corp (EQX) successfully consolidated ownership of the Greenstone mine, achieving commercial production in November 2024. The company reported a substantial increase in EBITDA for Q4 2024, reaching $185 million, which is a significant improvement over previous quarters. Equinox Gold Corp (EQX) plans to increase production in 2025 to between 635,000 ounces and 750,000 ounces, driven by the ramp-up of the Greenstone mine. Equinox Gold Corp (EQX) experienced a fatality at its Fazenda mine in 2024, highlighting ongoing safety challenges. The company is facing uncertainty at its Los Filos mine in Mexico due to pending agreements with local communities, which could impact future operations. Cash costs per ounce increased compared to Q4 2023, indicating rising operational expenses. The company reported high all-in sustaining costs at several mines, including Aurizona and Santa Luz, impacting overall profitability. Equinox Gold Corp (EQX) is dealing with geotechnical issues at the Piaba pit, which affected mining operations and required remediation efforts. Q: If gold prices remain high, what are you going to do with the extra free cash flow? A: Peter Hardie, CFO: We love the current gold price environment, which positively impacts our financials. With higher production and sales, we expect more free cash flow. Our focus is on deleveraging, so any excess cash will strengthen our balance sheet. Q: On Greenstone, could you give us some idea about the grade tons and recoveries for this year on average? A: Douglas Reddy, COO: Our budget and mine plan have us starting around a gram in the first quarter, ramping up to about 1.6 to 1.7 grams towards the end of the year. This increase is due to improved mining rates and selectivity. Q: What is the discrepancy between the ASIC and total cash cost guidance? A: Gregory Smith, CEO: We will take this question offline and get back to you, as we cannot do the math in real-time during the call. Q: If you decide to proceed with Los Filos, what does the sustaining capital look like going forward? A: Peter Hardie, CFO: We are awaiting clarity on the situation. Previously, during blockades, standby charges were $3-4 million per month. We expect lower costs on indefinite suspension and will provide more details as we move forward. Q: At Los Filos, can you provide details on the agreement terms with the communities? A: Gregory Smith, CEO: We are discussing long-term agreements that encompass the entire mine life. We need agreements with all three communities to continue operations. Without these, we cannot proceed with the mine. Q: Is there an update on the underground development at Aurizona? A: Douglas Reddy, COO: We are planning to start the portal and ramp as part of an exploration program to confirm mineability and access. This is not due to open pit constraints but to access a robust ore body underground. Q: Do you see additional opportunities to extend the mine life at Mesquite with higher gold prices? A: Douglas Reddy, COO: With Ginger, we have extended the life to evaluate other pits. We continue to explore opportunities, and Scott Heffernan can provide more details on exploration efforts. Q: Does the renewal of the base shelf include an ATM component? A: Gregory Smith, CEO: It gives us the ability to do ATMs, but we did not include an ATM on the renewal. We currently have no plans to implement an ATM. Q: What are the plans for exploration at Greenstone? A: Scott Heffernan, EVP of Exploration: We are focusing on significant exploration potential within the pit and underground. This year, we will conduct desktop studies and geological work, with significant exploration expected in the next two years. Q: Can you provide more clarity on the agreement status with the Los Filos communities? A: Douglas Reddy, COO: We reached agreement on key terms with all three communities, but only two have signed the final document. We need all three to sign to move forward. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
