Astoria Portfolio Advisors LLC. Invests $69,000 in Equinox Gold Corp. $EQX

Astoria Portfolio Advisors LLC. purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,877 shares of the company’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Equinox Gold during the second quarter worth about $3,188,000. Bernard Wealth Management Corp. acquired a new position in Equinox Gold during the second quarter worth about $58,000. Vontobel Holding Ltd. acquired a new position in Equinox Gold during the second quarter worth about $1,395,000. Triasima Portfolio Management inc. acquired a new position in Equinox Gold during the second quarter worth about $107,000. Finally, Shell Asset Management Co. grew its position in Equinox Gold by 19.8% during the second quarter. Shell Asset Management Co. now owns 1,363,469 shares of the company’s stock worth $7,864,000 after buying an additional 224,911 shares during the period. 38.85% of the stock is currently owned by institutional investors and hedge funds.

Equinox Gold Stock Performance

NYSEAMERICAN:EQX opened at $12.14 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. The company has a market cap of $9.51 billion, a P/E ratio of -202.30 and a beta of 1.14. Equinox Gold Corp. has a fifty-two week low of $4.95 and a fifty-two week high of $12.35. The firm’s 50 day moving average is $9.45 and its two-hundred day moving average is $7.47.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQX shares. Zacks Research upgraded shares of Equinox Gold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. National Bankshares restated an “outperform” rating on shares of Equinox Gold in a research report on Friday, August 15th. TD Securities restated a “buy” rating on shares of Equinox Gold in a research report on Friday, September 5th. Cibc World Mkts upgraded shares of Equinox Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada upgraded shares of Equinox Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $11.00 to $17.00 in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Equinox Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Equinox Gold Company 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.