Equinox Gold

EQX · NYSE American

$10.11−$0.25 (−2.41%)TodayMarket closed · Oct 23, 8:00 PM ET

Prev close $10.36

EQX analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy2
Hold0
Underperform0
Sell0

12-month price target · 3 analysts

Average $21.68 (+114.4% upside)

Low: $19.70
Now: $10.11
High: $24.15

Upgrades and downgrades

The latest rating actions, newest first

EQX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
RBC Capital	Sep 16, 2026	Maintains	Outperform	$13.00 → $14.00	49%
RBC Capital	Jul 9, 2026	Maintains	Outperform	$14.00 → $13.00	49%
RBC Capital	Jun 8, 2026	Maintains	Outperform	$17.00 → $14.00	30%

The case for and against

Updated Feb 9, 2026

Bull case

Equinox Gold Corp is anticipated to experience a significant increase in free cash flow generation, projected to rise from approximately $250 million in 2025 to about $1,080 million in 2026, driven by operational advancements at the Greenstone and Valentine projects. The company's net asset value (NAV) estimate has been raised by 28%, resulting in an upward adjustment of the target from C$11 to C$17, despite conservative production forecasts for its key projects. Furthermore, Equinox Gold is focused on long-term growth, advancing expansion plans for the Valentine mine, which aims to enhance throughput capacity from 2.5 million tonnes per annum to 5.0 million tonnes per annum, supporting its overall production strategy and financial stability.

Bear case

Equinox Gold Corp faces significant operational risks due to ongoing challenges in ramping up production at its Greenstone and Valentine mines, potentially leading to weaker overall operational performance. Additionally, the company is exposed to financial risks stemming from elevated debt levels incurred to fund its various projects, which could impact financial stability and growth prospects. These factors contribute to a negative outlook for the company's stock, suggesting potential difficulties in achieving planned production increases and expanding its operations effectively.

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