Equinox Gold (EQX.TO) Buy, Sell or Hold

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Equinox Gold (EQX.TO)

12.22

+0.12 (0.99%)

as of Jul 20, 2026, 8:00:00 pm Market Open.

206 watching

Investor Insights

Jul 20, 2026, 12:00 am

This summary was created by AI, based on 5 opinions in the last 12 months.

Equinox Gold (EQX) is currently facing a challenging environment for gold prices which have been declining. Experts note that while there are risks to the downside, particularly related to recent market movements and potential selling pressure from ORLA shareholders post-merger, there is optimism about EQX's future prospects. The merger with ORLA is expected to create a significantly larger and better-financed company that could lead to improved trading liquidity and attract index buyers. Additionally, analysts suggest that although near-term gold performance might be weak, EQX is positioned to be a major player in the Canadian gold sector with an enhanced balance sheet. However, investors should brace for volatility and potential shocks, although long-term rewards are anticipated. Overall, the execution of their growth strategy will be critical to their success.

Consensus

Neutral

Valuation

Fair Value

Similar

Kinross, KGC

HOLD

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research.

EPS of $0.027 beat estimates of ($0.044) and revenues of $352.16M missed expectations of $361.39M.
The stock rose as better-than-expected adjusted EBITDA helped to lift the name and as its guidance for CAPEX was less than expected.
Management noted this was its strong quarter of production at the lowest costs for the year.
Significant progress was made at its mines and it is well-funded to complete construction at Greenstone for the first half of 2024.
The results largely looked strong, but the name has not held up as well as the underlying price of gold and the company's debt levels are quite high. We would consider it to be OK at current levels, although its high leverage does present some level of concern for us.
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Unspecified

He likes gold in general. Equinox has consolidated after months of of downturn, same as gold itself. If it breaks out it could double. Gold needs to break out too - $2000 would be good.

HOLD

Humbling. Aggressive growth profile. Highest torque to gold prices. Gold is stagnant, production has come off, costs rising, lower grade production, weather impact in Brazil. Lower USD benefits gold price. Boom around the corner. Ontario project doing well. Keep.

PAST TOP PICK

(A Top Pick May 22/22, Down 40%) Gold sector highly impacted with rising interest rates. Expensive mine in Northern Canada creating difficulties. Operating problems in West Mexico have been addressed. Cost creep across portfolio causing headache. Still confident in stock. Current share price presenting buying opportunity.

DON'T BUY

If gold continues lower, we could see a bit more weakness, but he doesn't think this one's going to zero. You'd have to look at its cost of production. If the USD comes off, gold could go up a bit, but he wouldn't be stepping into gold right now.

Unspecified

Can't predict where gold goes from here but at least it hasn't really gone down. Equinox will have a more active second half - there was a shortfall in first half production. Two other major gold companies had massive cost overruns which has affected thee price of Equinox. However their budgets were set before inflationary pressures. Equinox set its budget after inflation became an issue so it is standing by its numbers. It is a prove-it-to-me story.

TOP PICK

Premier consolidator in the space. Likes the gold space. Likes management, whose skills mitigate downside risk. Sold off because of cost overruns at other Canadian construction projects. Will weather the storm and go materially higher. Within striking distance of 1M ounces of annual production. No dividend. (Analysts’ price target is $12.18)

PAST TOP PICK

(A Top Pick May 17/21, Down 36%) It did not have good quarterly results. Production was lighter than expected but this should be temporary in nature. There are also cost concerns since other companies (two in particular) are showing big cost over-runs with inflation. However Equinox announced its capital expenditure after inflation had already started to appear so it is already factored in. There is insider buying by the CEO, President, COO and Investor Relations.

BUY

He thinks the takeout of PG is great. He holds both to benefit from long-term effects of inflation. EQX is well run, a buy, with a $12 price target.

PAST TOP PICK

(A Top Pick Nov 21/20, Down 37%) Fastest growth profile compared to peers.Talked to CEO recently. They are are a consolidator and thinking long term. The Green Stone project is very interesting - when up and running it will be the fourth largest gold project in Canada, Down 37% from Past Pick but one project shutdown has weighed on it. May buy more.

PAST TOP PICK

(A Top Pick Nov 16/20, Down 24%) He liked that they had such a strong growth profile. They are still able to grow their production.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Has missed on most the 3 most recent results. The company has also had to temporarily suspend activities in a mine in Mexico but also announced positive news at their Brazil mine. Has solid cash balance, increasing equity position, low debt and good liquidity. A good price to enter. Unlock Premium - Try 5i Free

BUY

It is in the sweet spot, a cost profile with room for improvement and mines across 4 politically stable jurisdictions. It is his favourite gold stock in the sector.

TOP PICK

The opportunities are right for improvement. Seven operating mines over politically stable jurisdictions. It has the fastest growth profile over 3 years and yet it has one of the biggest discounts. The reason is because so much of their assets are tied up in future-dated projects. The opportunity is that 3 of 4 development projects are teed up to come on line over the next three years. As they reach milestones it will dissipate the discount on their share price. (Analysts’ price target is $17.89)

TOP PICK

Really good entry point. $14 price target. Very well executing company. No dividend. (Analysts’ price target is $18.33)

Showing 31 to 45 of 59 entries

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Equinox Gold (EQX.TO)