Arete Wealth Advisors LLC acquired a new stake in Equinox Gold Corp. (NYSEAMERICAN:EQX – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 47,818 shares of the company’s stock, valued at approximately $395,000.
Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Equinox Gold by 1.7% during the first quarter. CIBC Asset Management Inc now owns 466,054 shares of the company’s stock worth $3,852,000 after acquiring an additional 7,901 shares during the last quarter. Oppenheimer & Close LLC increased its position in shares of Equinox Gold by 2.5% during the first quarter. Oppenheimer & Close LLC now owns 215,841 shares of the company’s stock worth $1,783,000 after acquiring an additional 5,200 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Equinox Gold by 67.0% in the first quarter. Russell Investments Group Ltd. now owns 3,056,929 shares of the company’s stock worth $25,256,000 after purchasing an additional 1,225,988 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Equinox Gold by 16.4% in the first quarter. Commonwealth Equity Services LLC now owns 27,524 shares of the company’s stock worth $227,000 after purchasing an additional 3,873 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in Equinox Gold by 13.7% in the first quarter. Steward Partners Investment Advisory LLC now owns 68,572 shares of the company’s stock worth $567,000 after purchasing an additional 8,246 shares in the last quarter. 35.13% of the stock is owned by hedge funds and other institutional investors.
Equinox Gold Trading Down 6.7 %
Shares of NYSEAMERICAN EQX opened at $4.01 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 2.20. The company has a market cap of $1.22 billion, a PE ratio of -133.67 and a beta of 1.19. Equinox Gold Corp. has a 12-month low of $3.75 and a 12-month high of $9.07.
Analyst Upgrades and Downgrades
A number of research firms recently commented on EQX. TD Securities decreased their price target on Equinox Gold from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday. National Bank Financial downgraded Equinox Gold from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 29th. Stifel Nicolaus decreased their price target on Equinox Gold from C$16.25 to C$11.50 in a research note on Wednesday, July 20th. BMO Capital Markets decreased their price target on Equinox Gold from C$14.50 to C$14.00 in a research note on Tuesday, May 17th. Finally, Desjardins decreased their target price on Equinox Gold from C$12.00 to C$11.25 in a research note on Friday, May 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.55.
About Equinox Gold
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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