Van ECK Associates Corp Trims Stake in Endeavour Silver Corporation $EXK

Van ECK Associates Corp cut its position in shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) by 49.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,533,509 shares of the mining company’s stock after selling 9,292,904 shares during the period. Van ECK Associates Corp’s holdings in Endeavour Silver were worth $74,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Total Investment Management Inc. acquired a new position in shares of Endeavour Silver during the second quarter worth $41,000. Centric Wealth Management acquired a new stake in shares of Endeavour Silver in the 2nd quarter worth $60,000. Andina Capital Management LLC purchased a new position in Endeavour Silver during the 3rd quarter worth $89,000. Hohimer Wealth Management LLC grew its stake in Endeavour Silver by 16.6% during the 3rd quarter. Hohimer Wealth Management LLC now owns 14,415 shares of the mining company’s stock worth $113,000 after buying an additional 2,050 shares during the last quarter. Finally, Retirement Planning Group LLC acquired a new position in Endeavour Silver during the 3rd quarter valued at about $118,000. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

Endeavour Silver Stock Performance

NYSE EXK opened at $11.56 on Wednesday. The firm has a market capitalization of $3.42 billion, a P/E ratio of -27.51 and a beta of 1.16. The stock has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $9.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.53. Endeavour Silver Corporation has a fifty-two week low of $2.95 and a fifty-two week high of $15.15.

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

Analysts Set New Price Targets

Several equities analysts recently commented on EXK shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, January 14th. Zacks Research raised Endeavour Silver from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Alliance Global Partners reiterated a “buy” rating on shares of Endeavour Silver in a research note on Friday, January 9th. BMO Capital Markets reissued an “outperform” rating on shares of Endeavour Silver in a report on Monday, January 19th. Finally, B. Riley Financial raised their price objective on Endeavour Silver from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Endeavour Silver presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Endeavour Silver 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.