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There are plenty of arguments that the gold bugs make for not only the price of gold, but also companies that mine gold. The problem now is, that interest rates are moving against gold. That means, there is more pressure being put on the precious metal than ever before. That is causing the earnings trends in these stocks to move in the wrong direction, to the downside. One such stock is today’s Bear of the Day. I’m talking about Equinox Gold (EQX - Free Report) .
Equinox Gold is a Canadian-based gold mining company that operates gold mines in North and South America. The company was founded in 2017 and is headquartered in Vancouver, British Columbia.
Equinox Gold's portfolio of mining projects includes the Aurizona gold mine in Brazil, the Castle Mountain gold mine in California, the Mesquite gold mine in California, the Mercedes gold mine in Mexico, and the Greenstone gold mine project in Ontario. The company also has exploration projects in the United States, Brazil, and Ecuador.
Equinox Gold focuses on sustainable and responsible mining practices, with a commitment to environmental and social responsibility. The company works closely with local communities and stakeholders to ensure that its mining operations have a positive impact on the surrounding areas.
In addition to gold mining, Equinox Gold is also involved in the acquisition and development of other mining projects. The company has a strong financial position and a team of experienced mining professionals, which allows it to pursue new opportunities and expand its operations.
EQX is currently a Zacks Rank #5 (Strong Sell). The reason for the unfavorable rank is that analysts have been cutting their estimates for the current year and next year. Over the last 60 days alone, the current year Zacks Consensus Estimate for the current year has gone from 12 cents to a five cent loss, while next year’s number is off from 44 cents to 11 cents.
There are other stocks within the Mining – Gold industry which are in the good graces of our Zacks Rank. These include Zacks Rank #2 (Buy) stocks DRDGOLD Limited (DRD - Free Report) and Yamana Gold .
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Bear of the Day: Equinox Gold (EQX)
There are plenty of arguments that the gold bugs make for not only the price of gold, but also companies that mine gold. The problem now is, that interest rates are moving against gold. That means, there is more pressure being put on the precious metal than ever before. That is causing the earnings trends in these stocks to move in the wrong direction, to the downside. One such stock is today’s Bear of the Day. I’m talking about Equinox Gold (EQX - Free Report) .
Equinox Gold is a Canadian-based gold mining company that operates gold mines in North and South America. The company was founded in 2017 and is headquartered in Vancouver, British Columbia.
Equinox Gold's portfolio of mining projects includes the Aurizona gold mine in Brazil, the Castle Mountain gold mine in California, the Mesquite gold mine in California, the Mercedes gold mine in Mexico, and the Greenstone gold mine project in Ontario. The company also has exploration projects in the United States, Brazil, and Ecuador.
Equinox Gold focuses on sustainable and responsible mining practices, with a commitment to environmental and social responsibility. The company works closely with local communities and stakeholders to ensure that its mining operations have a positive impact on the surrounding areas.
In addition to gold mining, Equinox Gold is also involved in the acquisition and development of other mining projects. The company has a strong financial position and a team of experienced mining professionals, which allows it to pursue new opportunities and expand its operations.
EQX is currently a Zacks Rank #5 (Strong Sell). The reason for the unfavorable rank is that analysts have been cutting their estimates for the current year and next year. Over the last 60 days alone, the current year Zacks Consensus Estimate for the current year has gone from 12 cents to a five cent loss, while next year’s number is off from 44 cents to 11 cents.
There are other stocks within the Mining – Gold industry which are in the good graces of our Zacks Rank. These include Zacks Rank #2 (Buy) stocks DRDGOLD Limited (DRD - Free Report) and Yamana Gold .