Movement Alert｜Equinox Gold Corp. Falls 6.11% in Regular Trading, Higher Fed Rate Expectations Weigh on Gold Miners

Market Focus10-23

On October 23, Equinox Gold Corp. fell 6.11% in Regular Trading, trading at $10.405 per share, with turnover of $55.5311 million.

The move coincided with broad weakness across gold miners after hotter-than-expected US September CPI data lifted expectations for further Federal Reserve tightening, pressuring the precious-metals sector.

Recent market reporting indicated US September CPI rose 3.7% year over year, above the 3.6% expectation, while rate probabilities shifted toward additional hikes by December. Sector pressure was broad, with peers including Coeur Mining, Agnico Eagle Mines, Barrick Mining Corporation, Newmont Mining and Pan American Silver all posting declines. Company-specific fundamentals were more stable: Equinox Gold Corp. reported Q3 production of 237,019 ounces, sales of 248,484 ounces, maintained its production guidance of 870,000 to 920,000 ounces, repaid $190 million of debt, and ended the quarter with $527 million in cash.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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