10 Firms Shine Amid Market Slump

3. Equinox Gold Corp. (NYSEAMERICAN:EQX)

Shares of Equinox Gold increased by 8.24 percent on Monday to close at $6.57 apiece in line with a surge in gold prices which climbed by 0.76 percent to $2,833.90.

The continued rally also appears to reflect growing investor confidence, following the company’s impressive gold production results reported just last month.

According to Equinox, it was able to produce 213,960 ounces of gold in the fourth quarter of 2024 and 621,870 ounces for the full year. Its Greenstone mine, which it now fully controls, contributed 111,710 ounces in its first partial year of operations after achieving commercial production.

Equinox Gold Corp. also said it ended the year with approximately $240 million in cash and equivalents and $105 million available to draw on its revolving credit facility, as well as another $100 million undrawn accordion feature.

During the fourth quarter, the company was able to slash its debt by $180 million with the payment of the final $40 million due to Orion Mine Finance for the purchase of its 40 percent interest in Greenstone and with the conversion to equity by the holders of $140 million in convertible notes.