Equinox Gold to Announce Q4 Earnings on February 18
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20 hours ago
0mins
Should l Buy EQX?
Source: seekingalpha
- Earnings Announcement: Equinox Gold (EQX) is set to release its Q4 2023 earnings on February 18 after market close, with a consensus EPS estimate of $0.22, reflecting a 29.4% year-over-year increase, which could significantly impact the stock price.
- Performance Expectations: Over the past two years, EQX has beaten EPS estimates 75% of the time and revenue estimates 38% of the time, indicating a level of stability in profitability and market confidence in the company's performance.
- Estimate Revision Trends: In the last three months, EPS estimates have seen no upward revisions and two downward adjustments, while revenue estimates experienced one upward revision, suggesting a cautious market outlook that may influence investor decisions.
- Asset Sale Impact: Equinox Gold's sale of its Brazilian operations to CMOC for $1.015 billion not only provides liquidity but also allows the company to focus on more strategically significant core operations, enhancing overall operational efficiency.
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Analyst Views on EQX
Wall Street analysts forecast EQX stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 15.060
Low
13.68
Averages
15.89
High
18.00
Current: 15.060
Low
13.68
Averages
15.89
High
18.00
About EQX
Equinox Gold Corp. is a Canadian mining company. It is focused on the gold operations in Canada and across the Americas, and a pipeline of development and expansion projects. Its operating mines include Greenstone, Valentine, Mesquite, Nicaragua Ops: Libertad; Nicaragua Ops: Limon. Its growth projects include Castle Mountain Phase 2, and Los Filos Expansion. Greenstone is a multi-million-ounce gold project located in the top-tier mining jurisdiction of Ontario, Canada, approximately 275 km northeast of Thunder Bay in Geraldton, Ontario. Mesquite is an open pit, run-of-mine heap leach gold mine located in Imperial County, California, United States of America, approximately 200 miles south of its Castle Mountain Mine, 16 miles west of the state border with Arizona and 24 miles north of the border with Mexico. Libertad Mine and Mill is located approximately 110 km east of the capital of Managua. The Limon Mine & Mill is located in western Nicaragua.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Equinox Gold to Announce Q4 Earnings on February 18
- Earnings Announcement: Equinox Gold (EQX) is set to release its Q4 2023 earnings on February 18 after market close, with a consensus EPS estimate of $0.22, reflecting a 29.4% year-over-year increase, which could significantly impact the stock price.
- Performance Expectations: Over the past two years, EQX has beaten EPS estimates 75% of the time and revenue estimates 38% of the time, indicating a level of stability in profitability and market confidence in the company's performance.
- Estimate Revision Trends: In the last three months, EPS estimates have seen no upward revisions and two downward adjustments, while revenue estimates experienced one upward revision, suggesting a cautious market outlook that may influence investor decisions.
- Asset Sale Impact: Equinox Gold's sale of its Brazilian operations to CMOC for $1.015 billion not only provides liquidity but also allows the company to focus on more strategically significant core operations, enhancing overall operational efficiency.
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Equinox Gold to Announce Q4 Earnings on February 18
- Earnings Announcement: Equinox Gold (EQX) is set to release its Q4 2023 earnings on February 18 after market close, with a consensus EPS estimate of $0.22, reflecting a 29.4% year-over-year increase, which could significantly impact the stock price.
- Performance Expectations: Over the past two years, EQX has beaten EPS estimates 75% of the time and revenue estimates 38% of the time, indicating a level of stability in profitability and market confidence in the company's performance.
- Estimate Revision Trends: In the last three months, EPS estimates have seen no upward revisions and two downward adjustments, while revenue estimates experienced one upward revision, suggesting a cautious market outlook that may influence investor decisions.
- Asset Sale Impact: Equinox Gold's sale of its Brazilian operations to CMOC for $1.015 billion not only provides liquidity but also allows the company to focus on more strategically significant core operations, enhancing overall operational efficiency.
See More
AI Turbulence Impacts Market Performance
- Increased Market Volatility: Last week, stocks in software, real estate, financial services, and logistics faced selling pressure due to concerns over AI-related disruptions, with the Nasdaq Composite falling 0.2% and a weekly loss of 2.1%, indicating market sensitivity to AI impacts.
- Consumer Spending Data Focus: This week's highlight will be the Personal Consumption Expenditures (PCE) report on Friday, which will provide insights into consumer spending in December and inflation trends, especially following last week's unexpected slowdown in the Consumer Price Index (CPI).
- Corporate Earnings in Spotlight: Walmart (WMT) is set to release its fourth-quarter earnings on Thursday, marking the first report under new CEO John Furner, making it a key indicator of consumer spending that the market is eagerly anticipating.
- Ongoing AI Impact: As AI tools' potential effects intensify across various sectors, software stocks like Salesforce (CRM) and ServiceNow (NOW) have seen significant declines, reflecting the market's heightened vigilance regarding AI disruptions, necessitating close monitoring of future industry developments.
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- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
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Equinox Gold Announces New Gold Discovery at Valentine Mine
- New Discovery: Equinox Gold has confirmed a new gold discovery in the Minotaur Zone at its Valentine Gold Mine in Newfoundland and Labrador, located 8 km from the mill, highlighting the untapped potential of the area that could drive resource expansion and new discoveries.
- Significant Drilling Results: Drilling at the Frank Zone revealed gold grades up to 22.10 g/t over 6.30 meters, with the mineralized corridor extending over 1 km, indicating the potential for developing a new open pit that could extend the current 14-year mine plan.
- Future Drilling Plans: In 2026, Equinox Gold plans to conduct 15,000 to 20,000 meters of drilling in the Minotaur Zone to further confirm its mineralization potential, especially as initial drilling shows a 700-meter strike length that remains open in all directions.
- Application of Technology: By integrating artificial intelligence with traditional exploration methods, Equinox Gold utilized VRIFY's AI exploration software DORA to identify the Minotaur Zone as a high-priority target, demonstrating the company's foresight in enhancing exploration success and accelerating value creation.
See More
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Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
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Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.
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