Equinox Gold Corp. (EQX) shares are soaring 5.85% in pre-market trading on Thursday, building on Wednesday's 5.47% gain, as investors react to the company's impressive third-quarter 2025 financial results. The gold mining company reported record production figures and earnings that significantly surpassed analyst expectations, fueling the continued enthusiasm.

Equinox Gold announced a quarterly adjusted earnings per share (EPS) of $0.19, beating the analyst consensus estimate of $0.14 by 39.71%. This represents a substantial 111.11% increase compared to earnings of $0.09 per share in the same period last year. The company's quarterly sales reached $819 million, showing a remarkable 91.18% year-over-year growth, although slightly below the analyst estimate of $824 million.

The strong financial performance was underpinned by record gold production of 236,382 ounces for Q3 2025, with all-in sustaining costs of $1,833 per ounce. Notably, Equinox Gold's Greenstone operation showed significant improvements, with Q3 mining rates exceeding 185,000 tonnes per day, marking a 10% increase from the previous quarter and a 21% rise from Q1. Additionally, mill grades at Greenstone improved by 13% in Q3 to 1.05 grams per tonne gold. Despite the divestment of its Nevada assets, the company remains on track to meet the mid-point of its 2025 consolidated production guidance, excluding production from Valentine. These strong operational results, combined with the positive financial outcomes, appear to be the key drivers behind the stock's substantial pre-market surge.