NYSE Arca: EQX

Equinox Gold (EQX) Stock Analysis & Forecast

Sep 28 close

$11.23−0.71 (−5.9%)

Gekko Brief

AI summary

This week's news centers on Equinox Gold's plan to double North American gold output to 2 million ounces annually through organic growth and an expanded project pipeline, alongside the redemption of all outstanding $172.5 million 4.75% Convertible Senior Notes due October 15, 2028, with a conversion deadline of October 19 and redemption set for October 20. Coverage also noted differing valuation views, with one intrinsic value estimate placing the stock as overvalued while another cited an updated fair value tied to growth assumptions and analyst price target adjustments.

Equinox Gold closed at $11.23, down 5.9%, sitting below both its 50-day average of $11.53 and 200-day average of $13.19, with the 50-day below the 200-day. The stock is down 16.5% over one month but up 15.4% over three months and 5.5% over the past year. The GekkoIndex reads 63, placing it in the Accumulation zone, while the price sits 10.3% below Gekko Fair Value of $12.52.

The next earnings report is scheduled for 4 November 2026, 36 days out, beyond a typical 20-trading-day holding window; the prior report on 5 August showed EPS of $0.15 matching estimates and a 12.1% reaction. No insider, Congress, or unusual options activity appears in their respective 90-day and 30-day windows. Seasonality over five years shows an average 20-day return of 2.6% from this point, rising in 2 of those years. The consensus analyst target stands at $14, implying 24.7% upside from current levels.

Written by AI and checked automatically against the figures on this page. Generated Sep 29, 2026 from the data above.

Equinox Gold price vs fair value

$12.52$11.23Sep ’25Mar ’26Sep ’26
Close $11.23200-day averageGekko Fair Value $12.52

Equinox Gold quick facts

Market cap
$8.86B
P/E ratio
18.4
Forward P/E
8.7
EPS, TTM
$0.65
Revenue, TTM
$2.90B
Profit margin
28.1%
Dividend yield
0.26%
Beta
2.49
Volume
13.12M avg 12.60M
1-year return
+5.5%
Typical daily move
±5.3%
Typical 20-day move
±9.6%
50-day average
$11.53
200-day average
$13.19
Next earnings
Nov 4
Shares outstanding
1.17B
52-week range
$8.49$18.96

Equinox Gold swing-trade checklist

Equinox Gold scores 3 supportive, 1 mixed and 1 headwind across the 5 checklist items with data.

Six things swing traders check before a 20-day hold, read from the latest data.

3 supportive1 mixed1 headwind

  • Trendheadwind

    Below 50 and 200-day

    Close $11.23 is below the 50-day ($11.53) and 200-day ($13.19) averages, and the 50-day is below the 200-day.

    See the chart
  • GekkoIndexsupportive

    63, Accumulation

    Reading 63 is in the Accumulation zone.

    See the GekkoIndex
  • Fair valuesupportive

    10.3% below

    Price is 10.3% below Gekko Fair Value (more than 5% below).

    See fair value
  • Smart moneyno data

    No data

    No insider, Congress or unusual options activity in the window.

    See smart money
  • Earnings risksupportive

    Reports in 36 days

    Next report Nov 4, 2026, 36 days away — outside a typical 20-trading-day hold.

    See earnings
  • Seasonalitymixed

    +2.6% on average

    From this point in the calendar, the next 20 trading days averaged +2.6% over 5 years, rising in 2 of them.

    See seasonality

A description of current data, not a recommendation. How this page works

Equinox Gold stock chart and price history

Equinox Gold closed at $11.23 on Sep 28, 2026, +5.5% over the past year, inside a 52-week range of $8.49 to $18.96.

Close50-day average200-day averageVolume
Equinox Gold share price, past year, with 50-day and 200-day moving averages and volume$10$15NovDecJan 2026FebMarAprMayJunJulAugSep11.23

Use the left and right arrow keys to read daily values.

Performance Breakdown

1 month
−16.5%
3 months
+15.4%
6 months
−10.7%
1 year
+5.5%
The full EQX chart adds GekkoIndex, insider, options, Congress and hedge fund markers, plus TrendCandles™.Open EQX in Gekko

Follow Equinox Gold through every session

Put EQX on a Gekko watchlist and see its GekkoIndex, Gekko Fair Value and smart money signals update on the chart as they change.

Track EQX in GekkoFree for 7 days. No credit card required.

About Equinox Gold

Equinox Gold works across the full lifecycle of mining properties, handling acquisition, exploration, development and production, with its exploration work centered on gold and silver deposits. The company holds a spread of gold mines across Brazil, including Aurizona, RDM, Fazenda and Santa Luz, and has extended its reach into North America through the Mesquite mine and Castle Mountain property in California and the Los Filos mine in Mexico's Guerrero State. It also holds a 60% stake in the Greenstone project in Ontario, Canada.

This mix of wholly owned and partial interests spans several countries, giving Equinox Gold a portfolio that touches multiple stages of mine development rather than a single operating region.

Equinox Gold traces back to 2007 under the name Trek Mining Inc., adopting its current name in December 2017. The company is headquartered in Vancouver, Canada, and its shares are listed on the NYSE Arca under the ticker EQX.

Listed
NYSE Arca
Sector
Non-energy minerals
Industry
Precious metals
Website
equinoxgold.com

Equinox Gold GekkoIndex: the smart money zone

Equinox Gold’s GekkoIndex — Gekko’s 0 to 100 smart money score — reads 63, in the Accumulation zone, up 5.3 points over five sessions.

010063Accumulation

Up 5.3 points over five sessions, from the Neutral zone.

Reading for Sep 28, 2026

What followed past readings in each zone

ZoneReadings5 days10 days20 days50 days
Buying25+7.9%+9.2%+11.5%+11.9%
Accumulation (current zone)202+2.2%+3.7%+6.5%+15.1%
Neutral3920.0%+0.4%+2.2%+6.9%
Distribution50+1.6%+4.4%+6.5%+14.6%
Selling3Too few readings yet

Average EQX share-price change over the trading days after each daily reading in its GekkoIndex history. Across every stock Gekko tracks, Accumulation readings averaged +2.3% over 20 days. Past behaviour doesn’t guarantee future results.

Accumulation zone: Institutional interest building. About the five zones →

See every daily GekkoIndex reading plotted over the EQX price, zone by zone.Track EQX in Gekko

Is Equinox Gold stock overvalued? Gekko Fair Value

Equinox Gold trades 10.3% below Gekko Fair Value of $12.52, so the shares are undervalued on Gekko’s estimate.

Gekko’s own estimate of what Equinox Gold shares are worth, recalculated every trading day.

$12.52

Gekko Fair Value, Sep 29, 2026

10.3% Undervalued

How Gekko Fair Value works →

Gekko Fair Value on every chart, with the gap to price updating daily.Open EQX in Gekko

Equinox Gold insider and Congress trading

No open-market insider purchases were filed for Equinox Gold, and no Congress trades were disclosed, in the last 90 days.

Plus buybacks, unusual options and fund positions, each dated to when it became public.

Insider buying last 90 days

No open-market insider purchases were filed for EQX in the last 90 days.

From Form 4 filings, dated to when each was filed.

Every EQX insider filing, plotted on the chart in Gekko.Open EQX in Gekko

Congress trades last 90 days

No trades in EQX were disclosed by members of Congress in the last 90 days.

From congressional disclosures, which report amounts as ranges.

Congress disclosures for EQX, plotted on the chart in Gekko.Open EQX in Gekko

Buybacks

Equinox Gold has been buying back its own shares.

Bought back, quarter ended Mar 31, 2026
$4.64M
As a share of market cap
0.05%

From company filings.

Hedge funds and billionaires quarter ended Sep 30

0of the funds Gekko tracks hold EQX.

0added0opened0trimmed1sold out
Which funds are on each side, name by name.Unlock in Gekko

Equinox Gold earnings: next date and track record

Equinox Gold reports on Nov 4, 2026 (36 days away), and beat the EPS estimate in 3 of its last 8 reports.

3 of 8reports beat the EPS estimate
±9.9%average move across the report
7 of 8reports followed by a gain

Share-price move across each report

+12.1%Nov ’24+2.3%Feb ’25−9.3%May ’25+14.8%Aug ’25+10.0%Nov ’25+12.7%Feb ’26+5.7%May ’26+12.1%Aug ’26

Last earnings call, Aug 5, 2026 AI summary

What they said
Equinox Gold completed its business combination with Orla Mining and entered H2 2026 as a larger North American senior gold producer with increased production, stronger cash flow and an expanded growth pipeline. Management highlighted operational progress at key Canadian assets (Greenstone and Valentine), announced a 50% increase in the annual dividend to $0.09 per share, and provided updated 2026 consolidated production and cost guidance that incorporates 12 months of legacy Equinox and 5 months of Musselwhite and Camino Rojo. Guidance for 2026 is 870,000–920,000 oz (pro forma ~1.1M oz); consolidated total cash costs $1,600–$1,700/oz; AISC $1,900–$2,000/oz. Operational topics discussed included selectivity and dilution challenges at Valentine, recoveries and trommel installation at Greenstone, throughput improvements, and restart/planning work at Los Filos and Camino Rojo. Management emphasized disciplined integration, operational execution, and capital allocation with a focus on value creation. The call included Q&A covering grade control, throughput, recoveries, capital spending (including Phase 2 at Valentine, gyratory crusher change, Camino Rojo portal spend), G&A and fuel cost pressures, and leadership transition with Darren Hall transitioning from CEO and Jason Simpson assuming the CEO role. Management tone was confident and measured; they acknowledged near-term operational challenges and cost headwinds (notably higher fuel and site support costs) but expressed confidence in delivery of guidance and the long-term growth pipeline.
Guidance
2026 consolidated production: 870,000–920,000 ounces (pro forma ~1.1M oz). Consolidated total cash costs: $1,600–$1,700/oz. Consolidated all-in sustaining costs (AISC): $1,900–$2,000/oz. Dividend: increased 50% to $0.09 per share annually. CapEx: revised higher (company-level guidance moved from prior ~$95–115M to ~$180–200M for 2026), including $50–60M for Valentine Phase 2 in H2 2026, ~$35–40M Los Filos restart (H1/H2 split), ~$30–35M Camino Rojo (including ~$25M for portal collar and underground development). Guidance reflects 12 months of legacy Equinox operations plus 5 months from Musselwhite and Camino Rojo following the July 31 transaction close.
Risks flagged
Operational execution and ramp-up risks at Valentine (selectivity/dilution) and Greenstone (recoveries, arsenopyrite content) could impact grades, recoveries and throughput. Elevated fuel prices and higher site support/G&A are driving increased unit costs and capital/opex pressure. Integration risks from the large combination (human capital retention, clarity of roles) and near-term uncertainties in capital allocation timing for projects (Los Filos study outcomes, Camino Rojo underground) are present. Potential volatility in gold price affects royalties and related cash flow. Some CapEx details were deferred for offline follow-up, indicating remaining uncertainties in spend allocation.
ReportedEPSSurpriseRevenueSurpriseMove
Aug 5, 2026$0.15
est $0.15
0.0%$769.8M
est $775.8M
−0.8%+12.1%
May 6, 2026$0.23
est $0.29
−20.7%$861.6M
est $896.9M
−3.9%+5.7%
Feb 18, 2026$0.34
est $0.22
+54.5%$987.8M
est $951.4M
+3.8%+12.7%
Nov 5, 2025$0.19
est $0.11
+72.7%$809.9M
est $819.0M
−1.1%+10.0%
Aug 13, 2025$0.11
est $0.03
+280.9%$478.6M
est $486.6M
−1.6%+14.8%
May 7, 2025−$0.08
est $0.11
−172.7%$423.7M
est $403.8M
+4.9%−9.3%
Feb 19, 2025$0.17
est $0.22
−22.1%$575.0M
est $434.0M
+32.5%+2.3%
Nov 7, 2024$0.09
est $0.12
−25.0%$428.4M
est $437.8M
−2.2%+12.1%

“Move” is the close of the first session after the report compared with the close of the last session before it, so it reads the same whether the company reported before the open or after the close.

Equinox Gold stock forecast and analyst price targets

Analysts’ average 12-month price target for Equinox Gold is $14.00, +24.7% from the last close.

$14.00consensus 12-month target, +24.7% from the last close
+6.5%average 20-day move after past Accumulation readings
+2.6%average move over the next 20 trading days in the last 5 years
±5.3%typical daily move, from the 14-day average range

Gekko doesn’t publish price predictions. These are analyst targets and historical base rates, which don’t guarantee future results.

Equinox Gold seasonality: the next 20 trading days

Over the next 20 trading days from Sep 29, Equinox Gold averaged +2.6% across the last 5 years, rising in 2 of them.

Next 20 trading days, by year

+22.8%2021−4.0%2022+9.0%2023−6.2%2024−6.7%2025

Average move and hit rate

WindowAverageYears higher
Next 5 trading days+2.2%2 of 5
Next 10 trading days+5.3%3 of 5
Next 15 trading days+4.0%3 of 5
Next 20 trading days+2.6%2 of 5
Next 30 trading days+7.2%4 of 5

For scale, EQX’s typical 20-trading-day move in either direction is about 9.6%.

Equinox Gold market cap and key statistics

Equinox Gold’s market cap is $8.86B, with a P/E ratio of 18.4 and revenue of $2.90B over the last twelve months.

Valuation

Market cap
$8.86B
P/E ratio
18.4
Forward P/E
8.7
EPS, TTM
$0.65
Gekko Fair Value
$12.52

Trading

Volume
13.12M
Avg volume, 20 days
12.60M
52-week high
$18.96
52-week low
$8.49
Shares outstanding
1.17B

Financials

Revenue, TTM
$2.90B
Profit margin
28.1%
Return on equity
8.5%
Quarterly earnings growth, YoY
+451.7%

Risk and income

Beta
2.49
Typical daily move
±5.3%
Typical 20-day move
±9.6%
Dividend yield
0.26%

Equinox Gold peers

Equinox Gold’s 6 largest industry peers by market value, with today’s move, GekkoIndex zone and gap to Gekko Fair Value.

StockTodayGekkoIndex zonevs Fair Value
NEMNewmont+0.5%Accumulation18.4% below
AEMAgnico Eagle Mines+0.4%Accumulation7.4% below
BBarrick Mining+0.5%Accumulation7.3% above
WPMWheaton Precious Metals−0.2%Accumulation4.2% above
FNVFranco-Nevada−0.7%Accumulation10.4% above
KGCKinross Gold+1.2%Buying2.6% below

A peer links to its own page where one exists.

In the Buying zone today

Reporting earnings this week

Popular on Gekko

Equinox Gold stock FAQ

What is Equinox Gold’s market cap?

Equinox Gold’s market cap is $8.86B at the Sep 28, 2026 close of $11.23, with 1.17B shares outstanding. The shares trade on a P/E ratio of 18.4.

What is the Equinox Gold stock forecast?

The consensus analyst 12-month price target for Equinox Gold is $14.00, +24.7% from the last close. Gekko doesn’t publish price predictions of its own.

Is Equinox Gold stock overvalued or undervalued?

On Gekko’s estimate Equinox Gold is undervalued: the Sep 28, 2026 close of $11.23 is 10.3% below Gekko Fair Value of $12.52. Gekko Fair Value is recalculated every trading day, and a gap inside 5% either way counts as about fair value.

When does Equinox Gold report earnings next?

Equinox Gold is expected to report on Nov 4, 2026 (36 days away). Analysts expect earnings of $0.28 per share on revenue of $1.03B. Equinox Gold beat the earnings estimate in 3 of its last 8 reports, moving 9.9% on average across the report.

What is Equinox Gold’s 52-week high and low?

Equinox Gold’s 52-week high is $18.96 and its 52-week low is $8.49; it closed at $11.23 on Sep 28, 2026, +5.5% over the past year.

Is Equinox Gold stock a buy right now?

Gekko describes the data; it does not make buy or sell recommendations. On the swing-trade checklist, 3 of the 5 items with data read as supportive (gekkoindex, fair value and earnings risk), 1 as mixed (seasonality) and 1 as a headwind (trend). The checklist is a description of current data, not a recommendation.

How this page works

During US trading hours the price at the top of the page is a delayed quote, refreshed every 15 minutes; everything else is rebuilt after each US market close. The GekkoIndex, Gekko Fair Value and the checklist are Gekko’s own, and the Gekko Brief is written by AI from this page’s data and checked against it before it is published. How Gekko’s data works →

See Equinox Gold the way Gekko members do

Every GekkoIndex reading, insider trade, options bet and Congress disclosure plotted on the chart, plus the 5,800-name screener and trade planning tools.

Join 1,380 other traders using Gekko

Start Your FREE 7 Day Trial → Every feature unlocked. No credit card required.