Pier 88 Investment Partners LLC Cuts Stock Position in Equinox Gold Corp. (NYSEAMERICAN:EQX)

Pier 88 Investment Partners LLC lessened its holdings in shares of Equinox Gold Corp. (NYSEAMERICAN:EQXGet Rating) by 77.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,885 shares of the company’s stock after selling 74,600 shares during the period. Pier 88 Investment Partners LLC’s holdings in Equinox Gold were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EQX. SeaCrest Wealth Management LLC acquired a new stake in shares of Equinox Gold in the second quarter valued at about $29,000. Quantbot Technologies LP lifted its holdings in shares of Equinox Gold by 20,288.1% in the 1st quarter. Quantbot Technologies LP now owns 8,563 shares of the company’s stock worth $70,000 after purchasing an additional 8,521 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Equinox Gold in the 1st quarter worth approximately $97,000. Bank of New York Mellon Corp lifted its holdings in shares of Equinox Gold by 52.0% in the 1st quarter. Bank of New York Mellon Corp now owns 16,657 shares of the company’s stock worth $138,000 after purchasing an additional 5,701 shares during the last quarter. Finally, Privium Fund Management B.V. bought a new stake in shares of Equinox Gold in the 2nd quarter worth approximately $138,000. 30.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on EQX shares. BMO Capital Markets cut their target price on Equinox Gold from C$7.50 to C$6.00 in a research note on Monday, November 7th. TD Securities lowered their price target on Equinox Gold from C$8.00 to C$6.00 in a research report on Friday, November 4th. National Bank Financial decreased their target price on Equinox Gold from C$5.00 to C$4.00 in a report on Friday, November 4th. Scotiabank decreased their target price on Equinox Gold from C$6.50 to C$6.00 in a report on Friday, November 4th. Finally, Stifel Nicolaus decreased their target price on Equinox Gold from C$10.50 to C$8.50 in a report on Friday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.39.

Equinox Gold Trading Up 1.5 %

Shares of EQX traded up $0.05 during mid-day trading on Thursday, reaching $3.49. The company had a trading volume of 1,447,726 shares, compared to its average volume of 3,033,496. The stock has a market cap of $1.06 billion, a PE ratio of -31.73 and a beta of 1.02. Equinox Gold Corp. has a twelve month low of $2.35 and a twelve month high of $9.07. The company has a current ratio of 2.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.32.

Equinox Gold (NYSEAMERICAN:EQXGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Equinox Gold had a negative net margin of 1.65% and a negative return on equity of 0.97%. The firm had revenue of $245.10 million during the quarter. On average, sell-side analysts predict that Equinox Gold Corp. will post -0.32 EPS for the current fiscal year.

Equinox Gold Profile

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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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Institutional Ownership by Quarter for Equinox Gold (NYSEAMERICAN:EQX)

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