Equinox Gold Corp. (TSX: EQX, NYSE American: EQX) announced a normal course issuer bid that will allow the company to repurchase and cancel up to 39,414,095 common shares—about 5 % of its issued and outstanding shares—over a 12‑month period beginning March 2 2026 and ending March 1 2027 or earlier if the purchase limit is reached.
The company will buy shares at prevailing market prices on the Toronto Stock Exchange, the NYSE American, and approved alternative trading systems in Canada and the United States. The program is structured to provide flexibility, allowing Equinox to adjust the pace of purchases in response to market conditions while maintaining a disciplined capital‑allocation framework.
Equinox’s balance sheet has been strengthened by more than US$1.1 billion of debt reduction since the second quarter of 2025, driven by asset divestments—including the sale of its Brazil operations for up to US$1.015 billion and the sale of the Pan Mine and other Nevada assets for US$136.5 million—and robust cash flow from its operating mines. The company also introduced a quarterly cash dividend of US$0.015 per share, underscoring its confidence in long‑term cash‑flow generation.
CEO Darren Hall emphasized that the company’s improved financial position enables it to support the buyback in addition to the dividend. He noted that the current share price does not fully reflect Equinox’s underlying value and long‑term potential, and that the program will return value to shareholders while the company continues to focus on organic growth at its core mining operations.
The share repurchase will reduce the number of outstanding shares, potentially boosting earnings per share and signaling management’s belief that the stock is undervalued. The program also represents a strategic shift toward a balanced capital‑allocation approach, combining debt reduction, dividend payments, and share buybacks to enhance shareholder returns.
Investors responded positively to the announcement, citing the company’s strong balance sheet, significant debt reduction, and the introduction of a dividend. Some analysts noted valuation concerns, but overall sentiment reflected confidence in Equinox’s financial strength and future growth prospects.
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