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Equinox Gold Falls 1.6% Premarket Despite Record Revenue as Cost and Guidance Concerns Weigh

Equinox Gold (NYSE American: EQX) shares fell about 1.6% in premarket trading despite reporting record third-quarter revenue and adjusted EBITDA, as investors appeared to focus on elevated costs and guidance pointing toward the weaker ends of the company’s full-year ranges.

Third-quarter revenue reached a record $1.05 billion, while adjusted EBITDA rose to $533 million from $419.9 million a year earlier. Adjusted net income increased to $199.3 million, or $0.19 per share. However, reported net income fell to $62.5 million from $75.6 million, and GAAP EPS declined to $0.06 from $0.10.

Gold production totaled 237,019 ounces, including contributions from Musselwhite and Camino Rojo following the Orla Mining combination. Cash costs were $1,654 per ounce and all-in sustaining costs were $2,091 per ounce, although both improved sequentially.

Equinox said it remains on track to achieve only the low end of its updated 2026 production guidance of 870,000-920,000 ounces while expecting costs near the high end of its $1,900-$2,000 per ounce AISC range.

The company nevertheless continues to generate substantial cash, ending the quarter with $1.2 billion of liquidity and returning $35.3 million to shareholders through dividends and share repurchases.

The 1.6% premarket decline therefore appears to reflect concerns over elevated operating costs, softer GAAP earnings and full-year production tracking toward the low end of guidance, outweighing record revenue, stronger adjusted EBITDA and improving cash generation.
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Author
European Investor 11-10-26
Equinox Gold Corp. (TSX: EQX; NYSE American: EQX) announced that the TSX has accepted its notice to launch a normal course issuer bid (NCIB) to repurchase up to 39,414,095 common shares, representing approximately 5% of its 788,281,919 shares outstanding as of February 18, 2026.

The buyback may commence on March 2, 2026 and run until March 1, 2027, or until the maximum is reached. Purchases will be made on the TSX, NYSE American or alternative trading systems at prevailing market prices, with a daily TSX limit of 660,178 shares, subject to block purchase exceptions. All repurchased shares will be cancelled.

Management stated the NCIB reflects its view that the current share price does not fully reflect the company’s underlying value. The company has reduced debt by more than US$1.1 billion since Q2 2025 and recently initiated a quarterly dividend of US$0.015 per share.

Equinox Gold expects to implement an automatic share purchase plan (ASPP) to allow repurchases during blackout periods. The company is not obligated to purchase shares and may suspend or discontinue the program at any time.

Source: Equinox Gold press release, February 26, 2026.
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Author
The Investor 02-28-26
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04-09-25Global Finance News