5 Stocks That Could 10X by 2030

2. Equinox Gold Corp. (NYSEAMERICAN:EQX)

Stock Upside Potential: 82.51%

Forward P/E: 8.95

Number of Hedge Fund Holders: 30

Equinox Gold Corp (NYSEAMERICAN:EQX) is one of the stocks that could 10X by 2030. On May 13, Equinox Gold Corp (NYSEAMERICAN:EQX) announced plans to acquire Orla Mining in an all-stock deal . The acquisition will result in a combined North American gold producer worth $18.5 billion.

The deal will also result in the second-largest producer of Canadian gold, capable of producing 1.1 million ounces of gold from six operating mines across Canada, the US, Mexico, and Nicaragua. In addition, the combined company is to hold 22.7 million ounces of proven & probable mineral reserves and 25.1 million ounces of measured & indicated mineral resources.

Once the transaction closes, Equinox shareholders will own 67% of the combined company, with Orla shareholders owning the remaining 33%. The transaction is expected to close in the third quarter with the combined company operating as Equinox Gold. The acquisition is part of Equinox Gold’s bid to de-risk geographically at a time when a spike in gold prices has bolstered miners’ cash flow and improved access to capital.

Equinox Gold Corp. (NYSEAMERICAN:EQX) is a mining company that explores for, develops, and extracts gold and silver across the Americas. The company focuses on large-scale, long-life assets and aims to produce around 750,000 ounces of gold annually.