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Newsflash: Equinox Gold Corp. (TSE:EQX) Analysts Have Been Trimming Their Revenue Forecasts

Simply Wall St · 2d ago

One thing we could say about the analysts on Equinox Gold Corp. (TSE:EQX) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative. At CA$20.48, shares are up 6.6% in the past 7 days. Investors could be forgiven for changing their mind on the business following the downgrade; but it's not clear if the revised forecasts will lead to selling activity.

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After the downgrade, the six analysts covering Equinox Gold are now predicting revenues of US$3.4b in 2026. If met, this would reflect a sizeable 50% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$4.3b in 2026. The consensus view seems to have become more pessimistic on Equinox Gold, noting the substantial drop in revenue estimates in this update.

Check out our latest analysis for Equinox Gold

earnings-and-revenue-growth
TSX:EQX Earnings and Revenue Growth December 23rd 2025

There was no particular change to the consensus price target of US$16.97, with Equinox Gold's latest outlook seemingly not enough to result in a change of valuation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Equinox Gold at US$20.31 per share, while the most bearish prices it at US$13.78. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Equinox Gold shareholders.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The analysts are definitely expecting Equinox Gold's growth to accelerate, with the forecast 38% annualised growth to the end of 2026 ranking favourably alongside historical growth of 16% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 19% per year. It seems obvious that, while the growth outlook is brighter than the recent past, the analysts also expect Equinox Gold to grow faster than the wider industry.

The Bottom Line

The clear low-light was that analysts slashing their revenue forecasts for Equinox Gold next year. They're also forecasting more rapid revenue growth than the wider market. Often, one downgrade can set off a daisy-chain of cuts, especially if an industry is in decline. So we wouldn't be surprised if the market became a lot more cautious on Equinox Gold after today.

As you can see, the analysts clearly aren't bullish, and there might be good reason for that. We've identified some potential issues with Equinox Gold's financials, such as recent substantial insider selling. Learn more, and discover the 2 other risks we've identified, for free on our platform here.

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