| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 75 | 10.8x | 17.8x | Top tier | |
Growth | 98 | 95.2% | 7.1% | Top tier | |
Quality | 57 | 9.0% | 4.5% | Around median | |
Safety | 81 | 0.3x | 2.6x | Top tier | |
Capital Return | 91 | — | 2.12% | Top tier | |
Momentum | 37 | 43.3% | 2.9% | Bottom tier | |
Sentiment | 83 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Equinox Gold Corp. is a gold producer whose revenue depends on extracting, processing, and selling the metal from a portfolio of mines in North America. Following the completion of its merger with Orla Mining on July 31, 2026, the combined portfolio became centered on the Greenstone, Musselwhite, and Valentine mines, with a contribution from Camino Rojo and a plan to restart Los Filos; therefore, cash generation is linked to production volumes, ore grades, recovery rates, operating costs, and gold prices, which also affect certain royalties.
In fiscal year 2025, revenue reached $1.8 billion, gross profit was $642.9 million, net income was $221.5 million, and earnings per share were $0.35, compared with revenue of $912.8 million, gross profit of $206.1 million, net income of $339.3 million, and earnings per share of $0.75 in fiscal year 2024. Gross profit margins calculated from these figures were approximately 35.7% in fiscal year 2025 and approximately 22.6% in fiscal year 2024; that is, revenue and gross profit increased strongly, while net income and earnings per share declined.
In quarter 2 of fiscal year 2026, the company reported earnings per share of $0.16, slightly below the analysts' estimate of $0.17. The provided data did not include a figure for quarterly revenue or net income, but operating performance showed that Greenstone had effectively reached its nameplate capacity, the Valentine plant was operating above nameplate capacity, and Valentine's average feed grade improved to more than 1.8 grams per tonne in July 2026. The financial benefits of the Orla Mining merger will not begin to appear in the results until quarter 3 of fiscal year 2026.
The analyst consensus is “Buy,” with an average target of $13 and identical high and low targets of $13; however, the target is approximately 31% below the 52-week high of $18.96 and approximately 53% above its low of $8.485. No price-to-earnings ratio is available for the stock, so the assessment of the valuation depends more heavily on achieving fiscal year 2026 production guidance of 870–920 thousand ounces, containing all-in sustaining costs within $1,900–2,000 per ounce, and the emergence of benefits from the Orla Mining merger beginning in quarter 3 of fiscal year 2026.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
The merger was completed on July 31, 2026, so guidance includes only five months of production from Musselwhite and Camino Rojo during fiscal year 2026. The company expects combined production of between 870 thousand and 920 thousand ounces, while the merged entity's annual pro forma production reaches approximately 1.1 million ounces. Management said the financial benefits of the merger will begin to appear in the results of quarter 3 of fiscal year 2026, with a focus on integration, capital discipline, and delivery of the operating plans.
The Valentine plant consistently operated above its nameplate capacity during quarter 2 of fiscal year 2026, while high-grade ore reconciliation improved by approximately 20% compared with the previous quarter. The plant's average feed grade exceeded 1.8 grams per tonne in July 2026 and approached 2 grams per tonne in early August, compared with a second-half guidance assumption of 1.8–1.85 grams per tonne. Nevertheless, the grade remains below the average of 2.5 grams per tonne stated in the mine plan through 2028, and the company continues to work on selectivity, ore control, and reducing dilution and blending.
Automated analysis for informational purposes only — not investment advice.
Greenstone's average throughput reached approximately 26 thousand tonnes per day in quarter 2 of fiscal year 2026, then exceeded 28 thousand tonnes per day through August 5, 2026, placing the plant at or above its nameplate capacity. However, the recovery rate remained near 80% due to elevated arsenopyrite content in some ore. The company plans a sampling campaign during the remainder of 2026 and in 2027, and it also aims to install a trommel screen before the end of 2026 to reduce unwanted materials and downtime.
The company expects total cash costs of between $1,600 and $1,700 per ounce and all-in sustaining costs of between $1,900 and $2,000 per ounce in fiscal year 2026. The plan assumes consolidated fuel prices approximately 50% above the original estimates, with an impact of approximately $100 per ounce across the portfolio and approximately $200 at Valentine from the combined price and volume effects. Management is counting on higher production, improved absorption of fixed costs, and lower initial operating-stage support expenses to reduce unit costs during the second half.
The company ended July 2026 with approximately $650 million in cash, net cash of approximately $214 million, and available liquidity of approximately $1.2 billion. The board of directors approved a 50% increase in the annual dividend to $0.09 per share, alongside funding phase two of Valentine. Growth plans also include restarting Los Filos and developing an underground access at Camino Rojo, requiring a continued balance between shareholder returns and capital spending.
The stock has a “Buy” consensus and an average target of $13, with the high and low targets at the same figure. This target lies between the 52-week low of $8.485 and its high of $18.96, and is approximately 31% below the high. Because no price-to-earnings ratio is available, the valuation assessment depends more heavily on achieving fiscal year 2026 production of 870–920 thousand ounces and controlling all-in sustaining costs within $1,900–2,000 per ounce.
