Why Equinox Gold Corp. (EQX) Soared on Monday

We recently published a list of Why These 10 Firms Soared on Monday. In this article, we are going to take a look at where Equinox Gold Corp. (NYSEAmerican:EQX) stands against other Monday’s best performers.

The stock market kicked off the trading week on a negative note as investors sold off on a new round of uncertainties from President Donald Trump’s tariff policies.

The Nasdaq fell by 0.74 percent, while the S&P 500 dropped 0.64 percent and the Dow Jones was down by 0.24 percent.

Over the weekend, Trump told reporters that the US was negotiating with many countries, “but at the end of this, I’ll set my own deals — because I set the deal, they don’t set the deal.”

He added that he had no intentions to talk with Chinese President Xi Jinping, dampening hopes of a potential negotiation between the two of the world’s largest economies.

Beyond the major indices, 10 companies stood out with strong gains amid a flurry of fresh developments. In this article, we name Monday’s 10 best performers and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Aerial view of a large-scale gold mine, showing the extent of the company’s operations.

Equinox Gold Corp. (NYSEAmerican:EQX)

Equinox Gold rallied by 3.99 percent on Monday to end at $6.52 each in line with the surge in gold prices and ahead of the release of its earnings performance on Wednesday, May 7.

According to the company, it is scheduled to announce the results of its operations after market close on Wednesday, followed by a conference call to elaborate on the highlights at 10:30 AM ET on Thursday, May 8.

Meanwhile, Equinox Gold Corp. (NYSEAmerican:EQX) surged in line with higher gold prices, which as of this writing were up by 2.76 percent at $3,329.86 per ounce.

In recent news, shareholders of Calibre Mining Corp. gave their green light for the company’s planned $1.8-billion merger with Equinox Gold Corp. (NYSEAmerican:EQX).

Under the transaction, Equinox Gold Corp. (NYSEAmerican:EQX) will acquire all of Calibre’s issued and outstanding shares.

Following the approval, Calibre will now seek a final order from the Supreme Court of British Columbia to approve the arrangement at a hearing expected to be held on Wednesday, May 6.

Overall, EQX ranks 6th on our list of Monday’s best performers. While we acknowledge the potential of EQX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than EQX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.