Endeavour Silver (NYSE:EXK) Trading Down 9.6% – Here’s Why

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s share price fell 9.6% during trading on Tuesday . The company traded as low as $10.63 and last traded at $10.6170. 3,236,651 shares traded hands during trading, a decline of 79% from the average session volume of 15,618,320 shares. The stock had previously closed at $11.75.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EXK shares. Alliance Global Partners reiterated a “buy” rating on shares of Endeavour Silver in a research note on Friday, January 9th. iA Financial set a $11.00 price objective on Endeavour Silver in a report on Friday, January 9th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Endeavour Silver in a research note on Wednesday, February 4th. BMO Capital Markets reissued an “outperform” rating on shares of Endeavour Silver in a report on Monday, January 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $13.88.

Endeavour Silver Stock Up 4.0%

The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $11.04 and a 200-day moving average price of $8.60. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -35.66 and a beta of 1.23.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in Endeavour Silver by 13.3% during the 1st quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock valued at $10,483,000 after buying an additional 289,096 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Endeavour Silver in the first quarter valued at $100,000. Goldman Sachs Group Inc. boosted its stake in shares of Endeavour Silver by 133.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock valued at $5,590,000 after acquiring an additional 747,556 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Endeavour Silver by 162.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 527,300 shares of the mining company’s stock valued at $2,252,000 after acquiring an additional 326,508 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Endeavour Silver by 5.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,256 shares of the mining company’s stock worth $203,000 after purchasing an additional 2,161 shares in the last quarter. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Endeavour Silver Company Profile

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.