Endeavour Silver (NYSE:EXK) Trading Down 9.6% – What’s Next?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s share price traded down 9.6% during trading on Tuesday . The company traded as low as $10.63 and last traded at $10.6170. 3,236,651 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 15,618,320 shares. The stock had previously closed at $11.75.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. BMO Capital Markets restated an “outperform” rating on shares of Endeavour Silver in a research note on Monday, January 19th. Raymond James Financial reiterated an “outperform” rating on shares of Endeavour Silver in a research report on Wednesday, January 14th. iA Financial set a $11.00 price objective on Endeavour Silver in a research report on Friday, January 9th. Finally, B. Riley Financial increased their target price on Endeavour Silver from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Endeavour Silver presently has an average rating of “Buy” and an average target price of $13.88.

Endeavour Silver Stock Down 4.2%

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.79 and a quick ratio of 0.57. The firm has a market capitalization of $3.33 billion, a P/E ratio of -33.12 and a beta of 1.23. The firm’s fifty day moving average price is $10.88 and its 200-day moving average price is $8.51.

Institutional Trading of Endeavour Silver

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Endeavour Silver by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after acquiring an additional 3,005,563 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Endeavour Silver by 2.2% during the second quarter. Jupiter Asset Management Ltd. now owns 10,557,111 shares of the mining company’s stock worth $51,916,000 after purchasing an additional 223,457 shares during the period. Van ECK Associates Corp grew its position in Endeavour Silver by 2.7% during the fourth quarter. Van ECK Associates Corp now owns 9,794,705 shares of the mining company’s stock valued at $92,071,000 after purchasing an additional 261,196 shares in the last quarter. Vanguard Group Inc. increased its stake in Endeavour Silver by 83.5% in the 4th quarter. Vanguard Group Inc. now owns 7,899,506 shares of the mining company’s stock valued at $74,303,000 after buying an additional 3,594,123 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Endeavour Silver by 13.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,454,734 shares of the mining company’s stock worth $26,895,000 after buying an additional 643,641 shares in the last quarter. 20.06% of the stock is owned by institutional investors and hedge funds.

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.