Equinox Gold upgraded to Strong Buy on growth, production boost, and undervaluation.

Equinox Gold has been upgraded to a Strong Buy due to its transformative growth, strong presence in top-tier mining jurisdictions, and a robust pipeline of projects. Key drivers include the Orla acquisition, a dividend increase, and a federal permit for the South Railroad project, which together enhance production and growth prospects. The company targets 870,000–920,000 ounces of gold production in 2026 at an all-in sustaining cost of $1,900–$2,000 per ounce, with output expected to reach 1.1 million ounces within a year. Despite this, Equinox Gold trades at just 0.7 times its net asset value, the lowest among peers, while aiming for 2 million ounces and improving its balance sheet rapidly.

Equinox Gold (EQX) shares trade at USD 11.03 as of Oct 08, 2026 23:31 WIB, up 0.73% on the day. Despite its growth ambitions, EQX remains closer to its 52-week low of USD 8.62 than its high of USD 18.76, reflecting a valuation at just 0.7 times net asset value. This positions EQX as a relatively low-priced option among gold miners on Pluang, with a market cap of $12.80 billion and a modest dividend yield of 0.48%.