By Kelly Cloonan
Shares of Equinox Gold climbed after the company's second-quarter profit beat Wall Street's expectations, driven by production growth at its Greenstone mine.
The stock rose 14% to $7.75 on Thursday. Shares are up 54% this year.
The Canadian miner on Wednesday posted a profit of $23.8 million or 5 cents a share, compared with $353.5 million, or 90 cents a share, a year earlier.
Adjusted earnings per share were 11 cents, ahead of estimates of 5 cents a share according to analysts polled by FactSet.
Revenue rose to $478.6 million from $269.4 million in the same quarter last year.
The company said it produced 219,122 ounces of gold during the quarter.
The results were driven by the company's Greenstone mine, where mining rates increased 23% and processing rates improved 20% compared with the first quarter, Chief Executive Darren Hall said.
Looking ahead, the company's ex-pit mining volumes are up 10% so far in the current quarter compared with the second quarter, putting the company on track for a strong second half of the year, Hall said.
He said the performance "sets the stage for our true inflection point" in the third quarter, noting a full-quarter contribution from the company's recent acquisition of Calibre Mining as well as continued improvement at Greenstone.
The Vancouver, British Columbia, company is on track to meet its full-year production guidance of 785,000 to 915,000 ounces of gold, he said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
August 14, 2025 12:50 ET (16:50 GMT)
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