Equinox GoldNYSE American: EQX

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While the precious metals sector has been disregarded by many as an ancient relic, gold stocks to buy have represented an incredibly popular topic as of late. That's been helped by the fact that recently, the yellow metal reached an all-time high.

Trident Royalties has noted that developer Equinox Gold (TSX:EQX) has made its initial gold pour from the Greenstone mine in Ontario, Canada. Greenstone has achieved its inaugural gold pour on schedule, producing 1,800 ounces of gold from the full recovery circuit, with all equipment operating as expected, Trident added in a statement.

The average of price targets set by Wall Street analysts indicates a potential upside of 26.8% in Equinox Gold (EQX). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Equinox Gold (EQX) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

At Zacks, we prioritize the reliable Zacks Rank system, which relies on earnings estimates and revisions to identify top stocks. However, we also keep an eye on current value, growth, and momentum trends to highlight strong choices.

Vancouver, British Columbia--(Newsfile Corp. - February 16, 2024) - Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) will release its audited financial and operating results for the fourth quarter and fiscal year ended December 31, 2023, along with its 2024 production and cost guidance, on Wednesday, February 21, 2024, after market close. Equinox Gold will host a conference call and webcast the following morning on Thursday, February 22, 2024, commencing at 7:30 am PT (10:30 am ET).

Equinox Gold reported record gold sales and revenue in Q3 2023, with 148,231 ounces of gold sold at a realized price of $1,917 per ounce. The completion of the Greenstone Project, scheduled for H1 2024, is expected to contribute to an annual production of 400,000 ounces of gold. Equinox Gold's stock has outperformed the VanEck Gold Miners ETF, with a 65.5% increase over the past year.

(Kitco News) - Equinox Gold delivers strongest third quarter on record for production, revenue and EBITDA