EQX
Basic MaterialsEquinox Gold Corp. · Gold · $10B
What is Equinox Gold Corp.?
Equinox Gold Corp. is a Vancouver-based gold producer operating mines across Brazil, the United States, Mexico, and Canada. The company focuses on acquiring, developing, and operating gold and silver mineral properties at scale.
Equinox Gold generates revenue by mining and selling gold — and to a lesser extent silver — from a portfolio of producing mines and development-stage assets. Its operating mines span Brazil, California, and Mexico, while its Greenstone project in Ontario represents a major growth asset held through a majority interest. The company pursues growth through both organic mine development and strategic acquisitions of mineral properties.
Equinox Gold was incorporated in 2007 and is headquartered in Vancouver, Canada.
- Gold production from multiple operating mines across three countries
- Silver by-product output alongside primary gold operations
- Greenstone project — a large-scale development asset in Ontario, Canada
- Exploration and resource expansion across existing property portfolio
- Acquisition and integration of gold mining assets
Is EQX a Good Stock to Buy?
UQS Score rates EQX as Below Average overall, reflecting meaningful gaps in quality and competitive positioning despite a standout growth profile.
The Growth pillar is the clearest bright spot for Equinox Gold, supported by an expanding mine portfolio and the ramp-up of major development projects. Valuation is rated Attractive, suggesting the market may not be fully pricing in the company's production growth trajectory.
Both the Quality and Moat pillars register as Weak, pointing to challenges around profitability consistency and limited durable competitive advantages relative to sector peers.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does EQX pay dividends?
Yes — Equinox Gold Corp. pays a dividend.
Equinox Gold pays a regular dividend, which is relatively uncommon among growth-oriented gold producers still expanding their mine base. The dividend signals a degree of financial confidence from management, though investors should weigh it alongside the company's ongoing capital requirements for mine development and its current quality profile.
When does EQX report earnings?
Equinox Gold reports earnings on a quarterly cadence, consistent with standard practice for TSX and NYSE American-listed mining companies.
Production growth from newer mines and the Greenstone ramp-up have been central themes in recent reporting periods. Cost management and gold price realizations remain key variables that shape quarterly results for the company.
For the most recent quarter's results and guidance updates, visit Equinox Gold's investor relations page directly.
EQX Price History
+52.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Equinox Gold Corp.?
Based on Equinox Gold Corp.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
EQX Long-term Outlook
Equinox Gold's fundamental outlook is shaped by a Strong Growth pillar, driven by a pipeline of mines moving from development into production. The Attractive Valuation rating suggests the stock may offer a favorable entry point relative to its growth potential. However, Weak Quality and Moat ratings introduce uncertainty around whether production growth will translate into durable profitability. The Neutral Risk rating indicates a balanced but not low-risk profile, appropriate for a company navigating multi-country mining operations.
Growth drivers
- Greenstone project ramp-up adding meaningful production capacity in Ontario
- Expanding gold output across Brazilian and North American operating mines
- Potential for further acquisitions consistent with the company's growth-by-acquisition strategy
Key risks
- Weak Quality pillar signals inconsistent profitability and cost control challenges
- Operating across Brazil, Mexico, and the US introduces geopolitical and regulatory risk
- Gold price volatility directly impacts revenue and project economics
EQX vs Peers
Equinox Gold competes in the mid-tier gold and precious metals mining space alongside several producers with distinct geographic and operational profiles.
Harmony Gold is a South Africa-focused producer with deep underground mining expertise, contrasting with Equinox's open-pit and multi-country Americas strategy.
Coeur Mining operates primarily in North America with a meaningful silver production mix, whereas Equinox Gold is more heavily weighted toward gold output.
Hecla is one of the largest US-based silver producers, giving it a different commodity exposure profile compared to Equinox Gold's gold-dominant revenue base.
Frequently Asked Questions
What does Equinox Gold do?
Equinox Gold Corp. acquires, develops, and operates gold and silver mining properties. Its producing mines are located in Brazil, California, and Mexico, and it holds a majority interest in the Greenstone development project in Ontario, Canada. The company earns revenue primarily by selling gold produced from these operations.
Does EQX pay dividends?
Yes, Equinox Gold pays a regular dividend. This is notable for a growth-stage gold producer still investing heavily in mine development. Investors should review the company's investor relations page for the current dividend policy and payment schedule, as terms can change with capital priorities.
When does EQX report earnings?
Equinox Gold reports financial results on a quarterly basis, in line with standard practice for companies listed on North American exchanges. For precise reporting dates and upcoming earnings releases, check the investor relations section of the Equinox Gold website.
Is EQX a good stock to buy?
UQS Score rates EQX as Below Average overall. The Growth pillar is Strong and Valuation is Attractive, which may appeal to investors seeking gold exposure at a reasonable price. However, Weak Quality and Moat ratings highlight real concerns around profitability and competitive durability. The full pillar breakdown is available to Pro members.
Is EQX overvalued?
The UQS Valuation pillar for EQX is rated Attractive, suggesting the stock is not considered overvalued relative to its fundamentals and growth profile at current levels. That said, valuation in mining stocks is closely tied to gold prices and production execution, both of which can shift quickly.
How does EQX compare to its competitors?
Compared to peers like Harmony Gold, Coeur Mining, and Hecla Mining, Equinox Gold stands out for its Strong Growth rating and multi-country Americas-focused portfolio. However, its Weak Quality and Moat scores suggest it lags some peers on profitability consistency and competitive positioning. The full comparative view is available on UQS Score.
What is EQX's market cap bracket?
Equinox Gold Corp. is classified as a large-cap company. This places it among the larger operators in the mid-tier gold mining segment, though still well below the mega-cap senior gold producers that dominate global output.
Who founded Equinox Gold?
The company was originally incorporated in 2007 under the name Trek Mining Inc. and rebranded as Equinox Gold Corp. in December 2017. Founding and leadership details are publicly available through the company's corporate history disclosures and regulatory filings.
Is EQX a long-term quality investment?
As a long-term quality indicator, EQX's Below Average UQS Score reflects meaningful structural concerns — particularly the Weak Quality and Moat pillars. The Strong Growth rating and Attractive Valuation may reward patient investors if production targets are met, but long-term quality depends heavily on improving profitability and cost discipline over time.
What is the main competitive advantage of Equinox Gold?
Equinox Gold's primary edge lies in its diversified, multi-mine portfolio across the Americas and its active growth pipeline, including the large-scale Greenstone project. However, the UQS Moat pillar rates as Weak, indicating that durable structural advantages — such as cost leadership or unique resource quality — are not yet clearly established relative to sector peers.
What sector does EQX belong to?
Equinox Gold operates in the Basic Materials sector, specifically within gold and precious metals mining. The sector is heavily influenced by commodity prices, currency movements, and geopolitical conditions in the jurisdictions where mines operate — all factors that shape the company's risk and return profile.
Is EQX a growth stock or value stock?
EQX shows characteristics of both. The UQS Growth pillar is rated Strong, reflecting an expanding production base and active development pipeline. At the same time, the Valuation pillar is rated Attractive, suggesting the stock is not priced at a significant premium. This combination may appeal to investors looking for growth at a reasonable price in the gold sector.
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Pro Analysis
EQX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 50.6 | 42.2 | 9.0 | 72.3 | 62.6 | 93.3 | +0.1 |
| May 21, 2026 | 50.5 | 42.2 | 9.0 | 72.3 | 62.6 | 92.4 | -0.1 |
| May 19, 2026 | 50.6 | 42.1 | 9.0 | 72.3 | 62.6 | 93.1 | +0.2 |
| May 18, 2026 | 50.4 | 42.1 | 9.0 | 72.3 | 62.6 | 92.3 | +0.1 |
| May 15, 2026 | 50.3 | 42.0 | 9.0 | 72.3 | 62.6 | 91.5 | 0.0 |
| May 14, 2026 | 50.3 | 42.0 | 9.0 | 72.3 | 62.6 | 91.7 | +0.2 |
| May 12, 2026 | 50.1 | 42.0 | 9.0 | 72.3 | 62.6 | 89.8 | +5.8 |
| May 10, 2026 | 44.3 | 27.0 | 9.0 | 72.3 | 39.2 | 100.0 | +2.8 |
| May 9, 2026 | 41.5 | 48.1 | 9.0 | 22.5 | 62.6 | 88.9 | -2.8 |
| May 8, 2026 | 44.3 | 27.0 | 9.0 | 72.3 | 39.2 | 100.0 | -1.0 |
EQX — Pillar Breakdown
Quality
— 42.2/100 (25%)Equinox Gold Corp. has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 72.3/100 (20%)Equinox Gold Corp. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 62.6/100 (15%)Equinox Gold Corp. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 94.1/100 (15%)Equinox Gold Corp. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 9/100 (25%)Equinox Gold Corp. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for EQX.
Score Composition
Financial Data
More Stock Analysis
How is the EQX UQS Score Calculated?
The UQS (Unified Quality Score) for Equinox Gold Corp. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Equinox Gold Corp.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Equinox Gold Corp. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.