Endeavour Silver (NYSE:EXK) Shares Gap Down – Here’s What Happened

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.60, but opened at $8.82. Endeavour Silver shares last traded at $9.3630, with a volume of 1,074,393 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on EXK. Zacks Research downgraded Endeavour Silver from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. iA Financial set a $11.00 price objective on Endeavour Silver in a research note on Friday, January 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Endeavour Silver in a report on Monday, January 19th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, February 4th. Finally, B. Riley Financial lifted their target price on shares of Endeavour Silver from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Endeavour Silver Stock Up 0.0%

The stock has a fifty day moving average price of $11.39 and a 200 day moving average price of $9.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.53 and a quick ratio of 1.30. The stock has a market capitalization of $2.84 billion, a P/E ratio of -22.93 and a beta of 1.39.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last released its quarterly earnings data on Friday, February 27th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $172.60 million for the quarter, compared to the consensus estimate of $227.99 million. Endeavour Silver had a negative net margin of 27.52% and a negative return on equity of 1.29%. On average, research analysts forecast that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Institutional Investors Weigh In On Endeavour Silver

A number of institutional investors and hedge funds have recently modified their holdings of EXK. B. Riley Wealth Advisors Inc. bought a new stake in Endeavour Silver during the 2nd quarter worth approximately $613,000. Montrusco Bolton Investments Inc. bought a new position in Endeavour Silver in the 3rd quarter valued at $9,514,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Endeavour Silver during the 3rd quarter valued at $3,052,000. Abbington Investment Group purchased a new position in shares of Endeavour Silver during the 3rd quarter valued at $2,944,000. Finally, Alps Advisors Inc. increased its holdings in shares of Endeavour Silver by 113.9% in 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 during the period. 20.06% of the stock is owned by hedge funds and other institutional investors.

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.