Endeavour Silver (NYSE:EXK) Shares Down 3.3% Following Analyst Downgrade

Shares of Endeavour Silver Corp. (NYSE:EXK) (TSE:EDR) fell 3.3% during trading on Wednesday after HC Wainwright lowered their price target on the stock from $6.25 to $6.00. HC Wainwright currently has a buy rating on the stock. Endeavour Silver traded as low as $4.11 and last traded at $4.13. 473,307 shares traded hands during trading, a decline of 91% from the average session volume of 5,401,128 shares. The stock had previously closed at $4.27.

Several other research firms have also recently issued reports on EXK. BMO Capital Markets initiated coverage on Endeavour Silver in a research note on Monday, June 17th. They set an “outperform” rating and a $6.00 target price for the company. CIBC increased their price target on Endeavour Silver from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Alliance Global Partners boosted their price objective on shares of Endeavour Silver from $4.00 to $5.25 and gave the company a “buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Endeavour Silver has an average rating of “Moderate Buy” and a consensus target price of $6.06.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EXK. Hohimer Wealth Management LLC purchased a new stake in shares of Endeavour Silver in the 2nd quarter valued at $42,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Endeavour Silver in the second quarter valued at approximately $42,000. MCIA Inc acquired a new position in shares of Endeavour Silver in the first quarter valued at approximately $34,000. Oxbow Advisors LLC acquired a new position in shares of Endeavour Silver in the second quarter valued at approximately $51,000. Finally, Oak Family Advisors LLC purchased a new stake in Endeavour Silver during the 2nd quarter worth approximately $55,000. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Stock Performance

The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -217.50 and a beta of 1.71. The stock’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $3.46.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its quarterly earnings data on Thursday, August 1st. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $58.30 million during the quarter, compared to analyst estimates of $62.01 million. Endeavour Silver had a negative net margin of 6.53% and a negative return on equity of 1.25%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share. Analysts predict that Endeavour Silver Corp. will post 0.04 EPS for the current year.

About Endeavour Silver

Endeavour Silver Corp., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.