AU vs. EQX: AngloGold Ashanti vs. Equinox Gold Stock Comparison

November 11, 2026

How do AngloGold Ashanti (AU) and Equinox Gold (EQX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

AngloGold Ashanti (AU) and Equinox Gold (EQX) are both classified in the Gold sub-industry within the broader Metals & Mining industry, placing them in the closest GICS peer bucket.

Company profile comparison for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Profile Item	AU	EQX
Name	AngloGold Ashanti plc	Equinox Gold Corp.
Country/Region	United States	Canada
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Metals & Mining
GICS Sub-Industry	Gold	Gold
Market Capitalization	47.04 billion USD	13.45 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE American
Listing Date	August 5, 1998	January 2, 2019
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

EQX

GSPC

AngloGold Ashanti (AU) vs. Equinox Gold (EQX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for AngloGold Ashanti (AU) and Equinox Gold (EQX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for AngloGold Ashanti (AU) and Equinox Gold (EQX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Total Return (1Y)	47.97%	1.87%
Total Return (3Y, Annualized)	87.34%	37.49%
Total Return (5Y, Annualized)	42.76%	8.54%

Risk Profile

Drawdown History

EQX

GSPC

AngloGold Ashanti (AU) vs. Equinox Gold (EQX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for AngloGold Ashanti (AU) and Equinox Gold (EQX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Volatility (1Y, Annualized)	60.11%	63.25%
Beta (5Y)	0.67	1.25
Max Drawdown (5Y)	-51.75%	-71.57%
Avg. Volume (3M)	2.54M	12.60M

Risk-Adjusted Performance

Risk-Return Positioning

AU and EQX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Sharpe Ratio (1Y)	0.73	-0.04
Sortino Ratio (1Y)	1.07	-0.06

Profitability

ROE (TTM)

AngloGold Ashanti (AU) at 44.33% sits in the top ROE quartile, while Equinox Gold (EQX) at 8.47% is closer to the peer norm — stronger capital efficiency for AU.

AU

Materials industry group

44.33%

Max: 52.88%
AU: 44.33%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

EQX

Materials industry group

8.47%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
EQX: 8.47%
Q1: -3.41%
Min: -32.81%

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both AngloGold Ashanti (AU) at 32.64% and Equinox Gold (EQX) at 28.09% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

AU

Materials industry group

32.64%

Max: 38.66%
AU: 32.64%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

EQX

Materials industry group

28.09%

Max: 38.66%
EQX: 28.09%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both AngloGold Ashanti (AU) at 45.36% and Equinox Gold (EQX) at 32.14% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AU

Materials industry group

45.36%

Max: 66.70%
AU: 45.36%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

EQX

Materials industry group

32.14%

Max: 66.70%
EQX: 32.14%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
ROE (TTM)	44.33%	8.47%
ROA (TTM)	24.39%	6.74%
Net Margin (TTM)	32.64%	28.09%
Operating Margin (TTM)	45.36%	32.14%
Gross Margin (TTM)	54.84%	57.60%

Growth

Revenue Growth

Both companies are growing quickly, but Equinox Gold (EQX) at 99.07% is the standout with revenue growth above its industry range; AngloGold Ashanti (AU) at 70.78% also sits in the top quartile.

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their Revenue Growth across different time periods.

EPS Growth

AngloGold Ashanti (AU) at 122.32% sits in the top EPS growth quartile, while Equinox Gold (EQX) at -53.33% is closer to the peer norm — faster per-share earnings growth for AU.

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Revenue Growth (YoY)	70.78%	99.07%
Revenue Growth (3Y CAGR)	30.02%	24.04%
EPS Growth (YoY)	122.32%	-53.33%
EPS Growth (3Y CAGR)	93.95%	--

Financial Strength

Current Ratio (MRQ)

AngloGold Ashanti (AU) at 2.55 keeps current ratio within its industry’s typical mid-range, while Equinox Gold (EQX) at 1.33 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for EQX.

AU

Materials industry group

2.55

Max: 5.96
Q3: 3.30
AU: 2.55
Median: 2.24
Q1: 1.45
Min: 0.16

EQX

Materials industry group

1.33

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
EQX: 1.33
Min: 0.16

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both AngloGold Ashanti (AU) at 0.16 and Equinox Gold (EQX) at 0.13 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

AU

Materials industry group

0.16

Max: 1.98
Q3: 0.89
Median: 0.47
AU: 0.16
Q1: 0.13
Min: 0.00

EQX

Materials industry group

0.13

Max: 1.98
Q3: 0.89
Median: 0.47
EQX: 0.13
Q1: 0.13
Min: 0.00

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Current Ratio (MRQ)	2.55	1.33
Debt / Equity (MRQ)	0.16	0.13
Net Debt / EBITDA	-0.17	0.21

Dividends

Dividend Yield (TTM)

Equinox Gold (EQX) at 0.27% pays an industry-typical yield; AngloGold Ashanti (AU) at 4.88% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

AU

Materials industry group

4.88%

AU: 4.88%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

EQX

Materials industry group

0.27%

Max: 4.52%
Q3: 1.85%
Median: 0.38%
EQX: 0.27%
Q1: 0.00%
Min: 0.00%

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Equinox Gold (EQX) at 6.25% pays out a band-typical share of earnings, while AngloGold Ashanti (AU) at 58.78% distributes more than its industry norm — less retained, thinner cover.

AU

Materials industry group

58.78%

Max: 83.62%
AU: 58.78%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

EQX

Materials industry group

6.25%

Max: 83.62%
Q3: 41.37%
Median: 9.54%
EQX: 6.25%
Q1: 0.00%
Min: 0.00%

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
Dividend Yield (TTM)	4.88%	0.27%
Dividend Payout Ratio (TTM)	58.78%	6.25%

Valuation

P/E Ratio (TTM)

Both AngloGold Ashanti (AU) at 12.09 and Equinox Gold (EQX) at 24.00 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

AU

Materials industry group

12.09

Max: 59.00
Q3: 32.93
Median: 18.82
AU: 12.09
Q1: 11.96
Min: 3.93

EQX

Materials industry group

24.00

Max: 59.00
Q3: 32.93
EQX: 24.00
Median: 18.82
Q1: 11.96
Min: 3.93

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

AngloGold Ashanti (AU) at 3.91 is priced about in line with its industry on P/S ratio, while Equinox Gold (EQX) at 4.64 sits in the pricier quartile — EQX costs more per dollar of sales.

AU

Materials industry group

3.91

Max: 9.62
Q3: 4.34
AU: 3.91
Median: 1.87
Q1: 0.73
Min: 0.00

EQX

Materials industry group

4.64

Max: 9.62
EQX: 4.64
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Equinox Gold (EQX) at 1.43 is valued about in line with its industry on P/B ratio, while AngloGold Ashanti (AU) at 5.01 carries an above-peer premium to book — AU is pricier on assets.

AU

Materials industry group

5.01

Max: 6.59
AU: 5.01
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

EQX

Materials industry group

1.43

Max: 6.59
Q3: 3.55
Median: 2.08
EQX: 1.43
Q1: 1.26
Min: -0.17

AngloGold Ashanti (AU) vs. Equinox Gold (EQX): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for AngloGold Ashanti (AU) and Equinox Gold (EQX)
Metric	AU	EQX
P/E Ratio (TTM)	12.09	24.00
P/S Ratio (TTM)	3.91	4.64
P/B Ratio (MRQ)	5.01	1.43
Free Cash Flow Yield (TTM)	7.61%	2.15%