Endeavour Silver (NYSE:EXK) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Endeavour Silver (NYSE:EXK) (TSE:EDR) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

EXK has been the subject of several other research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Endeavour Silver in a research note on Monday, January 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Endeavour Silver in a research report on Wednesday, January 21st. 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 report on Tuesday, January 13th. iA Financial set a $11.00 price target on shares of Endeavour Silver in a research report on Friday, January 9th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Endeavour Silver in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Endeavour Silver Trading Down 7.6%

NYSE EXK opened at $9.47 on Monday. The firm’s fifty day moving average is $11.88 and its two-hundred day moving average is $9.45. Endeavour Silver has a one year low of $2.95 and a one year high of $15.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.53. The firm has a market cap of $2.80 billion, a PE ratio of -22.54 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Endeavour Silver in the 2nd quarter valued at about $613,000. Montrusco Bolton Investments Inc. bought a new stake in Endeavour Silver in the third quarter valued at $9,514,000. Y Intercept Hong Kong Ltd acquired a new position in Endeavour Silver during the 3rd quarter valued at about $3,052,000. Abbington Investment Group acquired a new stake in Endeavour Silver in the 3rd quarter valued at approximately $2,944,000. Finally, Alps Advisors Inc. increased its holdings 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 valued at $34,965,000 after purchasing an additional 2,374,365 shares during the period. 20.06% of the stock is owned by institutional investors and hedge funds.

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.