Endeavour Silver (NYSE:EXK) Shares Gap Up – Time to Buy?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $10.24, but opened at $10.68. Endeavour Silver shares last traded at $10.9090, with a volume of 1,506,925 shares traded.

Analysts Set New Price Targets

Several research analysts have issued reports on EXK shares. Wall Street Zen downgraded shares of Endeavour Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. B. Riley Financial started coverage on shares of Endeavour Silver in a report on Monday, August 3rd. They issued a “buy” rating and a $14.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Endeavour Silver in a research note on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Endeavour Silver in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Endeavour Silver Stock Up 5.6%

The company has a current ratio of 1.97, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 51.39 and a beta of 1.42. The firm’s 50 day simple moving average is $8.95 and its 200-day simple moving average is $9.62.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Endeavour Silver had a return on equity of 17.46% and a net margin of 9.30%.The business had revenue of $212.10 million during the quarter, compared to analysts’ expectations of $210.79 million. On average, sell-side analysts anticipate that Endeavour Silver Corporation will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Endeavour Silver

A number of large investors have recently made changes to their positions in EXK. Vanguard Group Inc. lifted its stake in shares of Endeavour Silver by 1,631.7% in the third quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock valued at $33,720,000 after purchasing an additional 4,056,768 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Endeavour Silver by 38.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after buying an additional 3,005,563 shares during the period. Balyasny Asset Management L.P. acquired a new position in Endeavour Silver during the third quarter worth about $20,225,000. Bank of America Corp DE purchased a new position in Endeavour Silver in the second quarter valued at about $20,040,000. Finally, Condire Management LP lifted its position in shares of Endeavour Silver by 200.0% during the 3rd quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock valued at $23,520,000 after acquiring an additional 2,000,000 shares during the period. Hedge funds and other institutional investors own 20.06% of the company’s stock.

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.