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Equinox Gold

TSXV:EQX
Snowflake Description

Limited growth and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EQX
TSXV
CA$680M
Market Cap
  1. Home
  2. CA
  3. Materials
Company description

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The last earnings update was 7 days ago. More info.


Add to Portfolio Compare Print
  • Equinox Gold has significant price volatility in the past 3 months.
EQX Share Price and Events
7 Day Returns
-1.6%
TSXV:EQX
-1.5%
CA Metals and Mining
0.9%
CA Market
1 Year Returns
-
TSXV:EQX
-7%
CA Metals and Mining
1.2%
CA Market
EQX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Equinox Gold (EQX) -1.6% 11.8% 24.2% - - -
CA Metals and Mining -1.5% 1.3% 9.8% -7% 6.9% -22.5%
CA Market 0.9% 2.3% 12.4% 1.2% 16.1% 5.9%
1 Year Return vs Industry and Market
  • No trading data on EQX.
  • No trading data on EQX.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Equinox Gold undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Equinox Gold to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Equinox Gold.

TSXV:EQX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.1%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSXV:EQX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.18
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.177 (1 + (1- 26.5%) (41.97%))
1.361
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.361 * 5.96%)
10.06%

Discounted Cash Flow Calculation for TSXV:EQX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Equinox Gold is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSXV:EQX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.06%)
2019 -34.00 Analyst x4 -30.89
2020 33.00 Analyst x2 27.24
2021 40.15 Analyst x2 30.11
2022 45.88 Est @ 14.28% 31.27
2023 50.74 Est @ 10.58% 31.42
2024 54.79 Est @ 7.99% 30.82
2025 58.17 Est @ 6.18% 29.74
2026 61.03 Est @ 4.91% 28.34
2027 63.48 Est @ 4.02% 26.79
2028 65.64 Est @ 3.4% 25.17
Present value of next 10 years cash flows $230.01
TSXV:EQX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $65.64 × (1 + 1.95%) ÷ (10.06% – 1.95%)
$824.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $824.66 ÷ (1 + 10.06%)10
$316.18
TSXV:EQX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $230.01 + $316.18
$546.18
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $546.18 / 552.94
$0.99
TSXV:EQX Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSXV:EQX)
1.331
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $0.99 x 1.331
CA$1.31
Value per share (CAD) From above. CA$1.31
Current discount Discount to share price of CA$1.23
= -1 x (CA$1.23 - CA$1.31) / CA$1.31
6.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Equinox Gold is available for.
Intrinsic value
6%
Share price is CA$1.23 vs Future cash flow value of CA$1.31
Current Discount Checks
For Equinox Gold to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Equinox Gold's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Equinox Gold's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Equinox Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Equinox Gold's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSXV:EQX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.05
TSXV:EQX Share Price ** TSXV (2019-03-19) in CAD CA$1.23
TSXV:EQX Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.752 $0.92
Canada Metals and Mining Industry PE Ratio Median Figure of 115 Publicly-Listed Metals and Mining Companies 13.44x
Canada Market PE Ratio Median Figure of 542 Publicly-Listed Companies 14.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Equinox Gold.

TSXV:EQX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSXV:EQX Share Price ÷ EPS (both in USD)

= 0.92 ÷ -0.05

-18.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Equinox Gold is loss making, we can't compare its value to the CA Metals and Mining industry average.
  • Equinox Gold is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does Equinox Gold's expected growth come at a high price?
Raw Data
TSXV:EQX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -18.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
50.3%per year
Canada Metals and Mining Industry PEG Ratio Median Figure of 35 Publicly-Listed Metals and Mining Companies 0.69x
Canada Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.21x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Equinox Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Equinox Gold's assets?
Raw Data
TSXV:EQX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.79
TSXV:EQX Share Price * TSXV (2019-03-19) in CAD CA$1.23
TSXV:EQX Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.752 $0.92
Canada Metals and Mining Industry PB Ratio Median Figure of 1,079 Publicly-Listed Metals and Mining Companies 1.42x
Canada Market PB Ratio Median Figure of 2,347 Publicly-Listed Companies 1.56x
TSXV:EQX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSXV:EQX Share Price ÷ Book Value per Share (both in USD)

= 0.92 ÷ 0.79

1.17x

* Primary Listing of Equinox Gold.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Equinox Gold is good value based on assets compared to the CA Metals and Mining industry average.
X
Value checks
We assess Equinox Gold's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Equinox Gold has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Equinox Gold expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
50.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Equinox Gold expected to grow at an attractive rate?
  • Unable to compare Equinox Gold's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Equinox Gold's earnings growth to the Canada market average as it is expected to be loss making during the next 1-3 years.
  • Equinox Gold's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSXV:EQX Future Growth Rates Data Sources
Data Point Source Value (per year)
TSXV:EQX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 50.3%
TSXV:EQX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 28.6%
Canada Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 33.3%
Canada Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 17.9%
Canada Market Revenue Growth Rate Market Cap Weighted Average 6.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSXV:EQX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSXV:EQX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 416 176 1
2022-12-31 434 157 1
2021-12-31 430 128 0 4
2020-12-31 399 104 -16 5
2019-12-31 274 72 -14 3
TSXV:EQX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 30 -23 -23
2018-09-30 15 -28 -41
2018-06-30 15 -33 -38
2018-03-31 19 -37 -24
2017-12-31 15 -26 -17
2017-09-30 1 -27 11
2017-06-30 1 -19 15
2017-03-31 3 -9 2
2016-12-31 1 -7 -2
2016-09-30 -1 -3
2016-06-30 -3 -4
2016-03-31 -4 -5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Equinox Gold is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Equinox Gold's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSXV:EQX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Equinox Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:EQX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 0.04 -0.04 2.00
2020-12-31 -0.03 -0.02 -0.04 2.00
2019-12-31 -0.05 -0.05 -0.05 1.00
TSXV:EQX Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.05
2018-09-30 -0.11
2018-06-30 -0.12
2018-03-31 -0.10
2017-12-31 -0.11
2017-09-30 0.09
2017-06-30 0.19
2017-03-31 0.04
2016-12-31 -0.09
2016-09-30 -0.21
2016-06-30 -0.34
2016-03-31 -0.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Equinox Gold is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Equinox Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Equinox Gold has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Equinox Gold performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Equinox Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Equinox Gold does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Equinox Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Equinox Gold's 1-year growth to the CA Metals and Mining industry average as it is not currently profitable.
Earnings and Revenue History
Equinox Gold's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Equinox Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSXV:EQX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 30.16 -23.05 28.69
2018-09-30 15.47 -41.04 26.78
2018-06-30 15.47 -37.92 25.58
2018-03-31 19.00 -24.14 24.00
2017-12-31 15.47 -16.73 19.03
2017-09-30 0.89 11.17 11.13
2017-06-30 0.89 15.24 7.15
2017-03-31 3.46 1.63 3.05
2016-12-31 0.89 -2.40 2.17
2016-09-30 -2.86 1.80
2016-06-30 -4.18 3.26
2016-03-31 -5.25 4.88
2015-12-31 -5.32 5.34
2015-09-30 -6.12 5.70
2015-06-30 -4.93 4.88
2015-03-31 -3.98 3.76
2014-12-31 -3.84 3.62
2014-09-30 -3.19 3.29
2014-06-30 -6.95 2.52
2014-03-31 -6.37 2.14
2013-12-31 -5.73 1.47
2013-09-30 -5.34 1.05
2013-06-30 -0.90 0.90
2013-03-31 -0.61 0.60
2012-12-31 -0.57 0.56

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Equinox Gold has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Equinox Gold has efficiently used its assets last year compared to the CA Metals and Mining industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Equinox Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Equinox Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Equinox Gold has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Equinox Gold's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Equinox Gold's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Equinox Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Equinox Gold's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Equinox Gold's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Equinox Gold Company Filings, last reported 2 months ago.

TSXV:EQX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 424.99 214.56 62.60
2018-09-30 359.63 71.74 25.57
2018-06-30 367.06 69.76 65.50
2018-03-31 393.39 34.72 52.15
2017-12-31 365.68 47.89 71.29
2017-09-30 204.88 28.82 61.07
2017-06-30 210.73 27.78 74.24
2017-03-31 199.03 26.78 85.65
2016-12-31 67.39 0.00 41.43
2016-09-30 33.95 0.00 0.99
2016-06-30 0.29 0.00 1.86
2016-03-31 1.12 0.00 2.23
2015-12-31 1.68 0.00 1.37
2015-09-30 1.68 0.00 0.76
2015-06-30 4.17 0.00 2.36
2015-03-31 5.76 0.00 3.68
2014-12-31 6.90 0.00 5.37
2014-09-30 7.57 0.00 6.15
2014-06-30 8.42 0.00 6.49
2014-03-31 8.62 0.00 6.95
2013-12-31 9.24 0.00 8.16
2013-09-30 9.67 0.33 9.65
2013-06-30 -0.21 0.41 0.06
2013-03-31 0.19 0.16 0.14
2012-12-31 0.42 0.00 0.26
  • Equinox Gold's level of debt (50.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 50.5% today).
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.

  • Equinox Gold has less than a year of cash runway based on current free cash flow.
  • Equinox Gold has less than a year of cash runway if free cash flow continues to grow at historical rates of 103.6% each year.
X
Financial health checks
We assess Equinox Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Equinox Gold has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Equinox Gold dividends. Estimated to be 0% next year.
If you bought CA$2,000 of Equinox Gold shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Equinox Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Equinox Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSXV:EQX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Canada Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 28 Stocks 1.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSXV:EQX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Equinox Gold has not reported any payouts.
  • Unable to verify if Equinox Gold's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Equinox Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Equinox Gold has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Equinox Gold's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess Equinox Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Equinox Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Equinox Gold has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Equinox Gold's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Christian Milau
COMPENSATION $242,304
TENURE AS CEO 2 years
CEO Bio

Mr. Christian Milau, CPA, CA, CPA (Illinois), serves as Chief Executive Officer and Director at Equinox Gold Corp since March 2017. Mr. Milau served as the Chief Executive Officer of Luna Gold Corp. since August 2016 to March 2017. He served as the Chief Executive Officer and President of True Gold Mining Inc. from April 27, 2015 to April 2016. He has executive experience in acquisitions, financing, mine development, construction and operations. Mr. Milau served as the Chief Financial Officer of Endeavour Mining Corporation from March 2011 to April 1, 2015 and served as its Executive Vice President since March 31, 2011 to April 2015. He served as a Vice President and Treasurer of New Gold Inc. from August 2008 to March 2011 and served as its Vice President of Finance. He has over 13 years of financial advisory experience in North America and Europe. At True Gold, Mr. Milau was instrumental in the development of the Karma Gold Project where, under his leadership, True Gold was able to successfully negotiate agreements with the government and community in Burkina Faso, recommence construction, complete development and reach production, all in under 14 months. In addition to his extensive background in finance and capital markets, Mr. Milau has important operational, government and stakeholder relations experience, including successfully negotiating various community, security, fiscal and tax agreements. He served as a Vice President of Deloitte & Touche LLP Corporate Finance from 2007 to 2008 and Vice President of Corporate Finance at BNP Paribas Bank in the U.K., where he originated and executed public and private company mergers and acquisitions from 2004 to 2007. Mr. Milau is a Canadian Chartered Professional Accountant with over 20 years of experience in mining and finance. Prior to BNP Paribas, he held roles in the assurance practices of PricewaterhouseCoopers in Switzerland and Deloitte & Touche in Vancouver. He has been a Director of Plateau Energy Metals Inc. since July 27, 201 and served in Trek Mining Inc. from March 31, 2017 to December 2017. He has been a Director of Northern Dynasty Minerals Ltd. since May 12, 2016. He served as a Director of Luna Gold Corp. since August 2016 to March 2017. He served as Director of True Gold Mining Inc. from April 27, 2015 to 2016. He served as a Director of Adamus Resources Ltd. Mr. Milau holds Chartered Accountant from Canadian Institute of Chartered Accountants.

CEO Compensation
  • Insufficient data for Christian to compare compensation growth.
  • Christian's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Equinox Gold management team in years:

1.6
Average Tenure
44.5
Average Age
  • The average tenure for the Equinox Gold management team is less than 2 years, this suggests a new team.
Management Team

Christian Milau

TITLE
CEO & Director
COMPENSATION
$242K
TENURE
2 yrs

Greg Smith

TITLE
President & Director
COMPENSATION
$324K
AGE
42
TENURE
2 yrs

Peter Hardie

TITLE
Chief Financial Officer
COMPENSATION
$218K
TENURE
2 yrs

Kylie Dickson

TITLE
Vice President of Business Development
COMPENSATION
$462K
AGE
37
TENURE
2 yrs

David Laing

TITLE
COMPENSATION
$282K
AGE
62
TENURE
0.3 yrs

Jim Currie

TITLE
Chief Operating Officer
TENURE
0.3 yrs

Kevin Scott

TITLE
Vice President of Projects

Rhylin Pauline Bailie

TITLE
Vice President of Investor Relations
AGE
47
TENURE
1.3 yrs

Susan Toews

TITLE
General Counsel
TENURE
0.9 yrs

Sebastian D'Amici

TITLE
Senior Vice President of Finance
Board of Directors Tenure

Average tenure and age of the Equinox Gold board of directors in years:

2
Average Tenure
60
Average Age
  • The average tenure for the Equinox Gold board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ross Beaty

TITLE
Chairman
AGE
66
TENURE
2.2 yrs

Christian Milau

TITLE
CEO & Director
COMPENSATION
$242K
TENURE
2 yrs

Greg Smith

TITLE
President & Director
COMPENSATION
$324K
AGE
42
TENURE
9.5 yrs

Marcel de Groot

TITLE
Director
COMPENSATION
$18K
AGE
45
TENURE
12 yrs

Len Boggio

TITLE
Director
AGE
63
TENURE
1.3 yrs

Jacques McMullen

TITLE
Director
TENURE
1.3 yrs

Marshall Koval

TITLE
Director
AGE
60
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
28. Nov 18 Buy Rhylin Pauline Bailie Individual 28. Nov 18 28. Nov 18 3,000 CA$0.88 CA$2,640
X
Management checks
We assess Equinox Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Equinox Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Be Concerned About Equinox Gold Corp's (CVE:EQX) Investors?

In this article, I'm going to take a look at Equinox Gold Corp’s (CVE:EQX) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Check out our latest analysis for Equinox Gold

Simply Wall St -

Are Equinox Gold Corp's (CVE:EQX) Interest Costs Too High?

Moving onto cash from operations, its small level of operating cash flow means calculating cash-to-debt wouldn't be too useful, though these low levels of cash means that operational efficiency is worth a look. … TSXV:EQX Historical Debt May 21st 18 Is EQX’s debt level acceptable? … Investors' risk associated with debt is virtually non-existent with EQX, and the company has plenty of headroom and ability to raise debt should it need to in the future.Next Steps: EQX’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Is Equinox Gold Corp (CVE:EQX) Undervalued?

The stock’s ratio of 0.97x is currently trading slightly below its industry peers’ ratio of 1.07x, which means if you buy Equinox Gold today, you’d be paying a relatively reasonable price for it. … And if you believe Equinox Gold should be trading in this range, then there isn’t much room for the share price grow beyond what it’s currently trading. … Since Equinox Gold’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy.

Simply Wall St -

February Stocks Insiders Recently Bought

In total, individual insiders own over 71 million shares in the business, which makes up around 16.76% of total shares outstanding. … In total, individual insiders own over 10 million shares in the business, which makes up around 38.44% of total shares outstanding. … In total, individual insiders own over 4 million shares in the business, which makes up around 2.32% of total shares outstanding.

Simply Wall St -

Company Info

Description

Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits. The company’s principal properties include the Aurizona project covering a total land package of approximately 223,160 hectares located in Maranhão State, Brazil; and the Castle Mountain property situated in California, the United States. It primarily explores for gold, copper, and silver deposits. The company was formerly known as Trek Mining Inc. and changed its name to Equinox Gold Corp. in December 2017. Equinox Gold Corp. was founded in 2007 and is headquartered in Vancouver, Canada.

Details
Name: Equinox Gold Corp.
EQX
Exchange: TSXV
Founded: 2007
CA$680,121,246
552,944,103
Website: http://www.equinoxgold.com
Address: Equinox Gold Corp.
800 West Pender Street,
Suite 730,
Vancouver,
British Columbia, V6C 2V6,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSXV EQX New Common Shares TSX Venture Exchange CA CAD 03. Aug 2018
OTCPK EQXF.F New Common Shares Pink Sheets LLC US USD 03. Aug 2018
DB 1LRB New Common Shares Deutsche Boerse AG DE EUR 03. Aug 2018
Number of employees
Current staff
Staff numbers
0
Equinox Gold employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 00:48
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2019/03/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.