Equinox Gold Corp. (EQX)
Basic Materials · ASE · US
Fundamentals
Valuation and ratings
Equinox Gold Corp. trades at USD8.75, which is 58% below the USD13.86 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 68 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 26.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Equinox Gold Corp.
Equinox Gold Corp. engages in the acquisition, exploration, development, and operation of mineral properties in the Americas. It primarily explores gold 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 incorporated in 2007 and is headquartered in Vancouver, Canada.
EQX passes 4 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
5 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Israel Englander, MILLENNIUM MANAGEMENT LLC$130.53M · 0.1% of book
- Ruffer LLP, Ruffer LLP$59.70M · 2.4% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$50.58M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$36.27M · 0.0% of book
- Steve Cohen, Point72 Asset Management, L.P.$29.80M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Equinox Gold Corp. (EQX) undervalued?
Against our discounted cash flow estimate of USD13.86, EQX at USD8.75 is 58% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own EQX?
5 of the institutions we track reported a position in EQX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is EQX's P/E ratio?
EQX trades at 26.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for EQX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.