TSX:EQX

Stock Analysis Report

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Executive Summary

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. More Details


Snowflake Analysis

Reasonable growth potential and fair value.

Share Price & News

How has Equinox Gold's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EQX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-7.2%

EQX

-1.5%

CA Metals and Mining

-0.4%

CA Market


1 Year Return

93.5%

EQX

49.1%

CA Metals and Mining

-4.0%

CA Market

Return vs Industry: EQX exceeded the Canadian Metals and Mining industry which returned 49.1% over the past year.

Return vs Market: EQX exceeded the Canadian Market which returned -3.9% over the past year.


Shareholder returns

EQXIndustryMarket
7 Day-7.2%-1.5%-0.4%
30 Day1.3%0.1%2.3%
90 Day1.4%-6.7%1.7%
1 Year93.5%93.5%50.3%49.1%-0.5%-4.0%
3 Year204.7%204.7%54.5%51.4%6.5%-3.9%
5 Year98.6%98.6%131.2%124.7%35.4%14.6%

Price Volatility Vs. Market

How volatile is Equinox Gold's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Equinox Gold undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EQX (CA$15.69) is trading below our estimate of fair value (CA$64.11)

Significantly Below Fair Value: EQX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EQX is unprofitable, so we can't compare its PE Ratio to the CA Metals and Mining industry average.

PE vs Market: EQX is unprofitable, so we can't compare its PE Ratio to the Canadian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EQX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EQX is good value based on its PB Ratio (2.1x) compared to the CA Metals and Mining industry average (2.8x).


Next Steps

Future Growth

How is Equinox Gold forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

49.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EQX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: EQX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: EQX's is expected to become profitable in the next 3 years.

Revenue vs Market: EQX's revenue (19.3% per year) is forecast to grow faster than the Canadian market (5.8% per year).

High Growth Revenue: EQX's revenue (19.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EQX's Return on Equity is forecast to be low in 3 years time (19.1%).


Next Steps

Past Performance

How has Equinox Gold performed over the past 5 years?

-42.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EQX is currently unprofitable.

Growing Profit Margin: EQX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: EQX is unprofitable, and losses have increased over the past 5 years at a rate of 42.8% per year.

Accelerating Growth: Unable to compare EQX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: EQX is unprofitable, making it difficult to compare its past year earnings growth to the Metals and Mining industry (56.4%).


Return on Equity

High ROE: EQX has a negative Return on Equity (-3.53%), as it is currently unprofitable.


Next Steps

Financial Health

How is Equinox Gold's financial position?


Financial Position Analysis

Short Term Liabilities: EQX's short term assets ($714.0M) exceed its short term liabilities ($197.1M).

Long Term Liabilities: EQX's short term assets ($714.0M) do not cover its long term liabilities ($1.2B).


Debt to Equity History and Analysis

Debt Level: EQX's debt to equity ratio (54.1%) is considered high.

Reducing Debt: Insufficient data to determine if EQX's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable EQX has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: EQX is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 37.9% per year.


Next Steps

Dividend

What is Equinox Gold current dividend yield, its reliability and sustainability?

3.16%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate EQX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate EQX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if EQX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if EQX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of EQX's dividend in 3 years as they are not forecast to pay a notable one for the Canadian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Christian Milau (48 yo)

3.58yrs

Tenure

US$736,980

Compensation

Mr. Christian Milau, CPA, CA, CPA (Illinois), has been Chief Executive Officer at Equinox Gold Corp since March 2017 and its Director since May 15, 2020. Mr. Milau served as the Chief Executive Officer of ...


CEO Compensation Analysis

Compensation vs Market: Christian's total compensation ($USD736.98K) is below average for companies of similar size in the Canadian market ($USD3.02M).

Compensation vs Earnings: Christian's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Christian Milau
CEO & Director3.58yrsUS$736.98k0.12%
$ 4.4m
Gregory Smith
President3.58yrsUS$599.53k0.13%
$ 4.8m
Peter Hardie
Chief Financial Officer3.58yrsUS$572.24k0.046%
$ 1.7m
Robert Heffernan
Executive Vice President of Exploration3.58yrsUS$446.12k0.038%
$ 1.5m
Douglas Reddy
Chief Operating Officer0.083yrno data0.030%
$ 1.1m
Rhylin Pauline Bailie
Vice President of Investor Relations3.58yrsno data0.014%
$ 517.7k
Susan Toews
General Counsel & Corporate Secretary2.5yrsno data0.0033%
$ 124.4k
Sebastian D'Amici
Senior Vice President of Financeno datano data0.021%
$ 786.2k
Marc Paul Leduc
Executive Vice President of US Operations2.83yrsno datano data
Kylie Dickson
Vice President of Business Development3.58yrsUS$462.32kno data
John Hunt
Consultantno datano datano data
John Proffett
Consultantno datano datano data

3.6yrs

Average Tenure

48yo

Average Age

Experienced Management: EQX's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Christian Milau
CEO & Director3.58yrsUS$736.98k0.12%
$ 4.4m
Wesley Clark
Independent Director0.58yrno data0.0050%
$ 187.6k
Peter Marrone
Independent Director0.58yrno data0.0054%
$ 205.7k
Ross Beaty
Independent Chairman2.83yrsUS$67.69k7.92%
$ 299.7m
Gordon Campbell
Independent Director0.58yrno data0.011%
$ 403.9k
Marshall Koval
Non-Independent Director2.83yrsUS$122.57k0.068%
$ 2.6m
Lenard Boggio
Lead Independent Director1yrUS$131.42k0.015%
$ 559.0k
Maryse Belanger
Independent Director0.42yrno datano data
Timothy Breen
Non-Independent Director1.17yrsUS$74.16k0.0012%
$ 46.9k

0.6yrs

Average Tenure

62yo

Average Age

Experienced Board: EQX's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: EQX insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 112.8%.


Top Shareholders

Company Information

Equinox Gold Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Equinox Gold Corp.
  • Ticker: EQX
  • Exchange: TSX
  • Founded: 2007
  • Industry: Gold
  • Sector: Materials
  • Market Cap: CA$3.782b
  • Shares outstanding: 241.03m
  • Website: https://www.equinoxgold.com

Number of Employees


Location

  • Equinox Gold Corp.
  • 700 West Pender Street
  • Suite 1501
  • Vancouver
  • British Columbia
  • V6C 1G8
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EQXAMEX (NYSE MKT LLC)YesNew Common SharesUSUSDJul 2013
EQXTSX (The Toronto Stock Exchange)YesNew Common SharesCACADJul 2013
1LRCDB (Deutsche Boerse AG)YesNew Common SharesDEEURJul 2013

Biography

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company primarily explores for gold, copper, and silver deposits. Its principal properties include the A ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 23:40
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.