Endeavour Silver (NYSE:EXK) Announces Quarterly Earnings Results

Endeavour Silver (NYSE:EXK) (TSE:EDR) posted its quarterly earnings data on Friday. The mining company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06), Zacks reports. The firm had revenue of $111.40 million for the quarter, compared to the consensus estimate of $162.05 million. Endeavour Silver had a negative net margin of 28.49% and a negative return on equity of 0.62%.

Endeavour Silver Trading Down 1.5%

EXK traded down $0.11 during trading on Friday, hitting $7.21. 11,743,657 shares of the stock were exchanged, compared to its average volume of 12,596,250. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.93. The firm has a 50 day simple moving average of $7.49 and a 200 day simple moving average of $5.66. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -26.71 and a beta of 1.27. Endeavour Silver has a 1 year low of $2.95 and a 1 year high of $10.37.

Hedge Funds Weigh In On Endeavour Silver

Several institutional investors have recently made changes to their positions in EXK. Dynamic Technology Lab Private Ltd purchased a new stake in Endeavour Silver in the first quarter worth about $100,000. Quantbot Technologies LP purchased a new position in Endeavour Silver during the 2nd quarter valued at about $120,000. Nebula Research & Development LLC raised its holdings in shares of Endeavour Silver by 223.7% in the 2nd quarter. Nebula Research & Development LLC now owns 55,329 shares of the mining company’s stock valued at $272,000 after purchasing an additional 38,236 shares in the last quarter. Walleye Capital LLC lifted its position in shares of Endeavour Silver by 423.2% in the 2nd quarter. Walleye Capital LLC now owns 58,706 shares of the mining company’s stock worth $289,000 after purchasing an additional 47,485 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Endeavour Silver in the 2nd quarter worth approximately $363,000. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Analyst Ratings Changes

EXK has been the topic of several analyst reports. CIBC upgraded shares of Endeavour Silver from a “neutral” rating to a “sector outperform” rating and set a $16.00 price target on the stock in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Endeavour Silver in a research note on Wednesday, October 8th. Cibc Captl Mkts raised Endeavour Silver from a “hold” rating to a “strong-buy” rating in a research note on Monday. HC Wainwright boosted their price objective on Endeavour Silver from $9.75 to $11.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded Endeavour Silver from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Four research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $13.50.

About Endeavour Silver

Endeavour Silver Corp., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.