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

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down prior to trading on Monday . The stock had previously closed at $10.66, but opened at $10.07. Endeavour Silver shares last traded at $10.1650, with a volume of 3,267,321 shares traded.

Analysts Set New Price Targets

EXK has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Endeavour Silver in a research note on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Endeavour Silver in a research note on Friday, July 17th. Zacks Research upgraded Endeavour Silver from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 30th. B. Riley Financial assumed coverage on Endeavour Silver in a research report on Monday, August 3rd. They set a “buy” rating and a $14.00 price objective for the company. Finally, Wall Street Zen cut Endeavour Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Endeavour Silver Trading Down 4.2%

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 company has a 50-day simple moving average of $8.41 and a 200 day simple moving average of $9.74. The firm has a market cap of $3.03 billion, a PE ratio of 48.79 and a beta of 1.35.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The firm had revenue of $212.10 million during the quarter, compared to analyst estimates of $210.79 million. As a group, sell-side analysts forecast that Endeavour Silver Corporation will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXK. N.E.W. Advisory Services LLC acquired a new stake in shares of Endeavour Silver during the 2nd quarter valued at about $29,000. Harbor Investment Advisory LLC grew its holdings in Endeavour Silver by 166.7% in the second quarter. Harbor Investment Advisory LLC now owns 4,000 shares of the mining company’s stock valued at $33,000 after purchasing an additional 2,500 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Endeavour Silver by 389.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,583 shares of the mining company’s stock valued at $43,000 after buying an additional 3,647 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Endeavour Silver in the first quarter valued at approximately $55,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Endeavour Silver during the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 20.06% of the company’s stock.

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.