Endeavour Silver Corporation (NYSE:EXK) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) from a hold rating to a strong-buy rating in a report issued on Tuesday, July 4th. They currently have $3.50 price objective on the mining company’s stock.
According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “
A number of other research firms have also weighed in on EXK. HC Wainwright restated a buy rating and issued a $6.00 target price on shares of Endeavour Silver Corporation in a report on Tuesday, July 4th. ValuEngine lowered shares of Endeavour Silver Corporation from a hold rating to a sell rating in a report on Friday, June 16th. Noble Financial restated a buy rating on shares of Endeavour Silver Corporation in a report on Friday, June 9th. TheStreet upgraded shares of Endeavour Silver Corporation from a d rating to a c- rating in a report on Tuesday, May 30th. Finally, Raymond James Financial, Inc. upgraded shares of Endeavour Silver Corporation from a market perform rating to an outperform rating in a research note on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $5.71.
Shares of Endeavour Silver Corporation (NYSE EXK) traded down 5.76% during midday trading on Tuesday, hitting $2.29. The stock had a trading volume of 3,683,623 shares. The firm has a market cap of $291.52 million, a PE ratio of 36.35 and a beta of -0.01. The firm has a 50-day moving average of $2.99 and a 200 day moving average of $3.38. Endeavour Silver Corporation has a 12-month low of $2.26 and a 12-month high of $5.95.
Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) last released its quarterly earnings data on Wednesday, May 3rd. The mining company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The company had revenue of $36.44 million for the quarter, compared to analysts’ expectations of $36.31 million. Endeavour Silver Corporation had a net margin of 5.35% and a return on equity of 6.33%. On average, analysts expect that Endeavour Silver Corporation will post $0.12 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXK. Van ECK Associates Corp increased its position in Endeavour Silver Corporation by 32.5% in the first quarter. Van ECK Associates Corp now owns 20,341,055 shares of the mining company’s stock valued at $64,685,000 after buying an additional 4,989,578 shares during the period. Bank of Montreal Can increased its position in Endeavour Silver Corporation by 1,730.2% in the second quarter. Bank of Montreal Can now owns 2,058,260 shares of the mining company’s stock valued at $6,278,000 after buying an additional 1,945,800 shares during the period. Renaissance Technologies LLC increased its position in Endeavour Silver Corporation by 7.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,447,300 shares of the mining company’s stock valued at $19,174,000 after buying an additional 401,100 shares during the period. Global X Management Co. LLC increased its position in shares of Endeavour Silver Corporation by 15.2% in the first quarter. Global X Management Co. LLC now owns 1,510,720 shares of the mining company’s stock valued at $4,804,000 after buying an additional 199,276 shares during the last quarter. Finally, Sprott Inc. increased its position in shares of Endeavour Silver Corporation by 38.5% in the second quarter. Sprott Inc. now owns 693,316 shares of the mining company’s stock valued at $2,115,000 after buying an additional 192,557 shares during the last quarter. 32.43% of the stock is owned by institutional investors.
About Endeavour Silver Corporation
Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.
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