Equinox Gold 2025Q3 黄金产量分别环比增加 56.7%/60.7%至 7.35 吨/7.44 吨，净利润环比增长 259.7%至 8560 万美元

Investment Rating - Industry rating: Recommended [4] Core Insights - The report highlights a significant increase in gold production and sales for Equinox Gold in Q3 2025, with production rising by 35.9% year-over-year and 56.7% quarter-over-quarter to 236,382 ounces (approximately 7.35 tons) [2][3] - The average realized gold price in Q3 2025 was $3,397 per ounce, reflecting a year-over-year increase of 38.0% and a quarter-over-quarter increase of 5.9% [2][3] - The company's net profit for Q3 2025 reached $85.6 million, marking a staggering year-over-year increase of 28,433.3% and a quarter-over-quarter increase of 259.7% [3][5] Production and Operational Summary - Gold production for Q3 2025 was 236,382 ounces, with sales of 239,311 ounces [6] - Cash costs per ounce sold were $1,434, down 16.6% year-over-year and 3.0% quarter-over-quarter [6] - All-in sustaining costs (AISC) per ounce sold were $1,833, down 8.1% year-over-year and 6.4% quarter-over-quarter [6] Financial Performance Summary - Revenue for Q3 2025 was $819 million, representing a year-over-year increase of 91.2% and a quarter-over-quarter increase of 71.1% [3][6] - Adjusted EBITDA for Q3 2025 was $420 million, reflecting a year-over-year increase of 189.7% and a quarter-over-quarter increase of 110.9% [3][6] - As of September 30, 2025, the company held cash and cash equivalents of $348.5 million, a decrease from $406.7 million in the previous quarter [3][6]