Endeavour Silver (NYSE:EXK) Shares Gap Up – Here’s Why

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.66, but opened at $10.35. Endeavour Silver shares last traded at $10.6340, with a volume of 1,652,148 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research note on Friday, July 17th. Wall Street Zen lowered Endeavour Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. B. Riley Financial began coverage on Endeavour Silver in a research note on Monday, August 3rd. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Endeavour Silver in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Endeavour Silver Price Performance

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 firm’s 50-day moving average price is $8.62 and its two-hundred day moving average price is $9.67. The stock has a market cap of $3.25 billion, a PE ratio of 52.19 and a beta of 1.35.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $212.10 million for the quarter, compared to analyst estimates of $210.79 million. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. On average, equities analysts expect that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in Endeavour Silver by 13.3% during the first quarter. Millennium Management LLC now owns 2,455,127 shares of the mining company’s stock valued at $10,483,000 after purchasing an additional 289,096 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Endeavour Silver in the first quarter valued at about $100,000. Goldman Sachs Group Inc. raised its holdings in Endeavour Silver by 133.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,309,093 shares of the mining company’s stock worth $5,590,000 after purchasing an additional 747,556 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Endeavour Silver by 162.6% in 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 worth $2,252,000 after purchasing an additional 326,508 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Endeavour Silver by 3.8% during the second quarter. Geode Capital Management LLC now owns 144,333 shares of the mining company’s stock valued at $714,000 after buying an additional 5,303 shares during the last quarter. 20.06% of the stock is currently 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.