49,000 Shares in Equinox Gold Corp. $EQX Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 49,000 shares of the company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ruffer LLP lifted its position in Equinox Gold by 322.1% during the 2nd quarter. Ruffer LLP now owns 7,499,601 shares of the company’s stock worth $43,267,000 after buying an additional 5,722,871 shares in the last quarter. Eschler Asset Management LLP bought a new stake in Equinox Gold during the 1st quarter worth about $968,000. Invenomic Capital Management LP raised its holdings in Equinox Gold by 8.2% during the 1st quarter. Invenomic Capital Management LP now owns 1,320,532 shares of the company’s stock worth $9,085,000 after purchasing an additional 99,691 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in Equinox Gold during the 2nd quarter worth about $149,000. Finally, UMB Bank n.a. bought a new stake in Equinox Gold during the 2nd quarter worth about $200,000. Institutional investors and hedge funds own 38.85% of the company’s stock.

Equinox Gold Stock Performance

Shares of EQX stock opened at $11.01 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.53. The stock has a market cap of $8.62 billion, a PE ratio of -183.47 and a beta of 1.14. The stock has a 50-day moving average of $10.11 and a 200-day moving average of $7.69. Equinox Gold Corp. has a one year low of $4.95 and a one year high of $12.93.

Equinox Gold (NYSEAMERICAN:EQX) last posted its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. Equinox Gold had a positive return on equity of 3.54% and a negative net margin of 1.21%.The business had revenue of $478.64 million during the quarter, compared to analysts’ expectations of $470.00 million. During the same period in the prior year, the business earned ($0.01) EPS. Equinox Gold’s revenue for the quarter was up 77.7% compared to the same quarter last year. As a group, sell-side analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on EQX. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, August 15th. CIBC reissued a “neutral” rating on shares of Equinox Gold in a report on Tuesday, July 15th. Royal Bank Of Canada raised Equinox Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $11.00 to $17.00 in a report on Wednesday, September 10th. Finally, TD Securities reissued a “buy” rating on shares of Equinox Gold in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.00.

Equinox Gold Profile

Equinox Gold Corp. engages in the exploration, acquisition, development, and operation of mineral properties in the Americas. It explores gold and silver deposits. It holds interest in properties in California located in the United States; Guerrero State located in Mexico; Maranhão, Bahia, and Mina Gerais state located in Brazil; and Ontario, Canada.