Endeavour Silver (NYSE:EXK) Trading Down 3.5% – Here’s What Happened
by Kim Johansen · The Markets DailyEndeavour Silver Corporation (NYSE:EXK – Get Free Report) (TSE:EDR)’s share price fell 3.5% during mid-day trading on Wednesday . The company traded as low as $9.62 and last traded at $9.5730. 1,388,471 shares were traded during mid-day trading, a decline of 89% from the average session volume of 12,732,649 shares. The stock had previously closed at $9.92.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on EXK shares. Natl Bk Canada raised shares of Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. B. Riley upped their price target on Endeavour Silver from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Zacks Research lowered Endeavour Silver from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Endeavour Silver in a report on Tuesday, November 25th. Finally, CIBC raised Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 target price on the stock in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $12.67.
Read Our Latest Stock Analysis on EXK
Endeavour Silver Stock Performance
The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -28.31 and a beta of 1.32. The firm has a 50 day moving average price of $8.47 and a 200-day moving average price of $6.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.79 and a quick ratio of 0.57.
Endeavour Silver (NYSE:EXK – Get Free Report) (TSE:EDR) last issued its quarterly earnings results on Friday, November 7th. The mining company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $111.40 million for the quarter, compared to analysts’ expectations of $162.05 million. Endeavour Silver had a negative return on equity of 1.34% and a negative net margin of 31.18%. As a group, sell-side analysts expect that Endeavour Silver Corporation will post -0.07 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Endeavour Silver by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after acquiring an additional 3,005,563 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Endeavour Silver by 2.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 10,557,111 shares of the mining company’s stock valued at $51,916,000 after purchasing an additional 223,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Endeavour Silver by 13.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,454,734 shares of the mining company’s stock worth $26,895,000 after purchasing an additional 643,641 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Endeavour Silver by 113.9% during the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company’s stock worth $34,965,000 after purchasing an additional 2,374,365 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Endeavour Silver by 19.9% in the second quarter. TD Asset Management Inc now owns 4,458,979 shares of the mining company’s stock valued at $21,927,000 after buying an additional 740,046 shares during the last quarter. Hedge funds and other institutional investors own 20.06% of the company’s stock.
About Endeavour Silver
Endeavour Silver Corp. is a Vancouver-based precious metals mining company focused on the acquisition, development and operation of silver and gold properties in Mexico. Publicly listed on the New York Stock Exchange under the ticker EXK, the company has positioned itself as a mid-tier producer with a portfolio of high-grade, operating mines and exploration assets in key mineral belts.
Endeavour Silver’s core business activities revolve around four principal underground mines located in the states of Durango, Zacatecas, Guanajuato and Jalisco.