Equinox Gold Corp (EQX) Fair Value & Analysis
Basic Materials · US · Market cap $7.4B
Equinox Gold Corp
EQX · US
Fair value as of: Jul 17, 2026
From 15 valuation models · updated 22 days ago
Share price +9.5% over the past month.
Below-average quality, and screening another 62% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($5.16). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range $2.52 – $18.72 · fair‑value band $4.12 – $5.16 · the $10.74 price screens above the $4.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
Equinox Gold Corp (EQX) currently trades at $10.74, while our model-based Fair Value estimate is $4.12, implying the stock looks roughly 61.6% overvalued today. We read business quality at 32/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Equinox Gold Corp generated revenue of $2.4B at a net margin of 25.2%. Revenue grew 224.3% year over year. It earns a return on equity of 5.2%. Net debt stands at $1.1B. Fundamentals as of Jul 17, 2026
Our scenario range runs from $4.12 (bear case) to $5.16 (bull case); at $10.74, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high and 92% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 16% fair-value upside, at -62%, EQX screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 15 models by family
Widest divergence: Growth Earnings ($12.88) versus DCF Models ($0.7500). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 37
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Equinox Gold Corp reported revenue of $1.8B in FY2025 versus $1.1B in FY2021, a compound +14.3%/yr. Reported net income was $225M in FY2025, compounding −20.2%/yr from FY2021.
EQX screens 62% overvalued. Compare with Newmont Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Equinox Gold Corp. Q2 Profit Climbs
- Equinox Gold Delivers Strong Second Quarter Results; Increases 2026 Production Guidance Following Successful Completion of the Orla Mining M
- Equinox Gold and Orla Mining Complete Business Combination, Creating North America's New Senior Gold Producer
- Equinox Gold and Orla Mining Complete Business Combination, Creating North America’s New Senior Gold Producer
Peer Group
Gold · 259 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Gold median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Gold stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Newmont Corporation NEMCL | $112.00 | $132.73 | +19% |
| Zijin Mining Group 601899 | ¥28.36 | ¥30.58 | +8% |
| Agnico Eagle Mines Limited AEM | C$191.93 | C$154.33 | -20% |
| Barrick Mining Corporation B | $34.93 | $50.66 | +45% |
| Wheaton Precious Metals Corp WPM | C$152.57 | C$52.47 | -66% |
| Franco-Nevada Corporation FNV | C$284.75 | C$97.76 | -66% |
| AngloGold Ashanti plc AU | $76.35 | $88.63 | +16% |
| Gold Fields Limited GFI | $33.33 | $59.06 | +77% |
| Kinross Gold Corporation KGC | $22.57 | $34.62 | +53% |
| Northern Star Resources Limited NST | A$20.48 | A$15.98 | -22% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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