Cardinal Point Capital Management ULC Has $1.85 Million Stock Holdings in Equinox Gold Corp. $EQX

Cardinal Point Capital Management ULC trimmed its holdings in Equinox Gold Corp. (NYSEAMERICAN:EQX) by 18.1% during the third quarter, Holdings Channel reports. The institutional investor owned 164,725 shares of the company’s stock after selling 36,445 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Equinox Gold were worth $1,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new position in Equinox Gold in the 3rd quarter valued at about $962,000. Envestnet Asset Management Inc. raised its stake in shares of Equinox Gold by 8.1% in the third quarter. Envestnet Asset Management Inc. now owns 40,664 shares of the company’s stock worth $456,000 after purchasing an additional 3,036 shares during the last quarter. Arizona State Retirement System bought a new position in shares of Equinox Gold in the third quarter valued at approximately $152,000. Ruffer LLP boosted its position in shares of Equinox Gold by 15.4% during the third quarter. Ruffer LLP now owns 8,651,889 shares of the company’s stock valued at $96,992,000 after buying an additional 1,152,288 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in Equinox Gold by 131.6% during the third quarter. TD Waterhouse Canada Inc. now owns 41,509 shares of the company’s stock worth $453,000 after buying an additional 23,586 shares in the last quarter. 38.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research cut Equinox Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Scotiabank reaffirmed an “outperform” rating on shares of Equinox Gold in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce raised shares of Equinox Gold from a “neutral” rating to an “outperform” rating in a research report on Wednesday, February 4th. Stifel Nicolaus initiated coverage on Equinox Gold in a research note on Tuesday, December 2nd. They issued a “buy” rating on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Equinox Gold in a report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.00.

Equinox Gold Price Performance

Shares of NYSEAMERICAN EQX opened at $14.56 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $14.58 and a two-hundred day simple moving average of $11.68. Equinox Gold Corp. has a 1-year low of $5.59 and a 1-year high of $17.40. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 291.26 and a beta of 1.24.

Equinox Gold Profile

Equinox Gold Corp is a Canadian gold mining company headquartered in Vancouver, British Columbia. The company focuses on the acquisition, development, and operation of gold properties, with an emphasis on open-pit heap leach mining. Since its inception, Equinox Gold has pursued a strategy of combining assets in established jurisdictions to build a diversified portfolio that balances production and growth, while maintaining rigorous safety and environmental standards.

Equinox Gold’s operating portfolio spans three countries.