Raymond James Financial Inc. Sells 35,388 Shares of Equinox Gold Corp. $EQX

Raymond James Financial Inc. reduced its stake in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 5.8% during the 1st quarter, Holdings Channel reports. The firm owned 579,201 shares of the company’s stock after selling 35,388 shares during the period. Raymond James Financial Inc.’s holdings in Equinox Gold were worth $3,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQX. Wells Fargo & Company MN lifted its holdings in Equinox Gold by 16.3% during the fourth quarter. Wells Fargo & Company MN now owns 20,358 shares of the company’s stock worth $102,000 after acquiring an additional 2,855 shares in the last quarter. Mariner LLC bought a new position in Equinox Gold during the fourth quarter worth about $128,000. The Manufacturers Life Insurance Company lifted its holdings in Equinox Gold by 3.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 965,092 shares of the company’s stock worth $4,853,000 after acquiring an additional 33,042 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Equinox Gold during the fourth quarter worth about $47,000. Finally, Bank of America Corp DE lifted its holdings in Equinox Gold by 134.2% during the fourth quarter. Bank of America Corp DE now owns 327,058 shares of the company’s stock worth $1,642,000 after acquiring an additional 187,432 shares in the last quarter. 38.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQX shares. Zacks Research upgraded Equinox Gold from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. BMO Capital Markets initiated coverage on Equinox Gold in a report on Wednesday, June 18th. They set an “outperform” rating on the stock. Cormark raised Equinox Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 15th. CIBC restated a “neutral” rating on shares of Equinox Gold in a report on Tuesday, July 15th. Finally, National Bankshares restated an “outperform” rating on shares of Equinox Gold in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinox Gold has an average rating of “Moderate Buy” and an average price target of $35.00.

Equinox Gold Stock Performance

EQX opened at $9.78 on Friday. Equinox Gold Corp. has a 52-week low of $4.95 and a 52-week high of $9.87. The firm has a market capitalization of $7.43 billion, a PE ratio of -162.97 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.53 and a current ratio of 0.94. The business’s 50-day simple moving average is $6.96 and its 200 day simple moving average is $6.71.

Equinox Gold (NYSEAMERICAN:EQX) last released its earnings results on Wednesday, August 13th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $470.00 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Equinox Gold’s revenue was up 77.7% on a year-over-year basis. As a group, sell-side analysts expect that Equinox Gold Corp. will post 0.85 earnings per share for the current fiscal year.

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.