10 Best Small-Cap Gold Mining Stocks to Buy Now

6. Equinox Gold Corp. (NYSE:EQX)

Number of Hedge Fund Holders: 20

Equinox Gold Corp. (NYSE:EQX) is a leading gold mining company that operates in the U.S. Its key assets include Greenstone, Mesquite, Los Filos, and Aurizona.

In Q4 2024, Equinox Gold Corp. (NYSE:EQX) had a breakthrough with 214,000 ounces of gold production, bringing in $575 million in revenue. The company sold 218,000 ounces at an average price of $2,636 per ounce. Despite facing higher costs of $1,458 per ounce, the company saw its adjusted EBITDA jump to $218 million, thanks to increased output. Similarly, net income reached $28 million, with operating cash flow at $213 million. Accordingly, the company paid off $180 million in debt and finished the year with $239 million in cash on hand.

Looking ahead, Equinox Gold is well set up for growth, following its $5.7 billion merger with Calibre Mining that was announced in February 2025. This deal will create a diverse gold producer focused on the U.S., operating under the name New Equinox Gold. The merger makes it Canada’s second-largest gold producer, with main properties including the Greenstone and Valentine mines. These two mines alone should yield about 590,000 ounces of gold yearly, helping to boost total production. For 2025, output is expected to reach 950,000 ounces, eventually climbing beyond 1.2 million ounces at full capacity.

The merger not only boosts production but also strengthens Equinox Gold Corp.’s (NYSE:EQX) free cash flow, speeding up debt reduction. Moving forward, the company plans to bring Greenstone to full capacity by late 2025 while cutting costs across all operations to increase profits.

With its expanded reach and improved financial flexibility, along with strong gold prices, the company is ready to create lasting value in the gold sector. Equinox Gold Corp. (NYSE:EQX) is strengthening its role as a leading gold producer throughout the U.S., setting itself up as one of the best gold stocks to buy now.