Arete Wealth Advisors LLC purchased a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,818 shares of the company’s stock, valued at approximately $395,000.
Several other institutional investors also recently modified their holdings of EQX. CWM LLC bought a new position in shares of Equinox Gold in the fourth quarter valued at $39,000. Fermata Advisors LLC acquired a new stake in Equinox Gold during the 1st quarter valued at $91,000. St. Johns Investment Management Company LLC raised its stake in Equinox Gold by 340.8% during the 1st quarter. St. Johns Investment Management Company LLC now owns 13,734 shares of the company’s stock valued at $114,000 after purchasing an additional 10,618 shares during the period. Stansberry Asset Management LLC acquired a new stake in Equinox Gold during the 4th quarter valued at $120,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Equinox Gold during the 4th quarter valued at $125,000. Institutional investors own 35.13% of the company’s stock.
Analysts Set New Price Targets
EQX has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Equinox Gold from C$14.50 to C$14.00 in a research note on Tuesday, May 17th. Scotiabank cut shares of Equinox Gold from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 5th. Desjardins lowered their price target on shares of Equinox Gold from C$12.00 to C$11.25 in a report on Friday, May 6th. National Bank Financial cut shares of Equinox Gold from an “outperform” rating to a “sector perform” rating in a report on Friday, July 29th. Finally, TD Securities lowered their price target on shares of Equinox Gold from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.55.
Equinox Gold Trading Down 6.7 %
Equinox Gold (NYSEAMERICAN:EQX – Get Rating) last released its earnings results on Tuesday, May 3rd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). The firm had revenue of $223.20 million for the quarter. Equinox Gold had a return on equity of 0.42% and a net margin of 0.67%. As a group, research analysts anticipate that Equinox Gold Corp. will post 0.17 earnings per share for the current year.
Equinox Gold Company Profile
Equinox Gold Corp. engages in the operation, acquisition, exploration, and development of mineral properties. The company primarily explores for gold and silver deposits. Its properties include the Aurizona gold mine located in Maranhão State; the RDM gold mine located in Minas Gerais State; and Fazenda gold mine and the Santa Luz gold mine located in Bahia State, Brazil.
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