Endeavour Silver (NYSE:EXK) Shares Gap Down – Should You Sell?

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EXK shares. Zacks Research upgraded shares of Endeavour Silver from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Endeavour Silver from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Endeavour Silver in a research note on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Endeavour Silver in a research report on Friday, July 17th. Finally, B. Riley Financial initiated coverage on Endeavour Silver in a research note on Monday, August 3rd. They issued a “buy” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Endeavour Silver Price Performance

The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 46.05 and a beta of 1.35. The company has a 50 day moving average of $8.49 and a 200 day moving average of $9.68. The company has a quick ratio of 1.65, a current ratio of 1.97 and a debt-to-equity ratio of 0.34.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The business had revenue of $212.10 million for the quarter, compared to analyst estimates of $210.79 million. As a group, equities research analysts forecast that Endeavour Silver Corporation will post 0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXK. Vanguard Group Inc. lifted its stake in Endeavour Silver by 1,631.7% during the third quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company’s stock worth $33,720,000 after purchasing an additional 4,056,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Endeavour Silver by 38.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company’s stock worth $85,474,000 after purchasing an additional 3,005,563 shares during the period. Balyasny Asset Management L.P. bought a new stake in Endeavour Silver during the third quarter valued at $20,225,000. Bank of America Corp DE bought a new stake in Endeavour Silver during the second quarter valued at $20,040,000. Finally, Condire Management LP raised its holdings in shares of Endeavour Silver by 200.0% during the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company’s stock worth $23,520,000 after purchasing an additional 2,000,000 shares during the period. Institutional investors and hedge funds own 20.06% of the company’s stock.

About Endeavour Silver

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.