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

Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down before the market opened on Wednesday . The stock had previously closed at $10.51, but opened at $10.05. Endeavour Silver shares last traded at $9.3410, with a volume of 2,611,356 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on EXK. B. Riley Financial began 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. HC Wainwright reissued a “buy” rating and issued a $17.00 price objective on shares of Endeavour Silver in a research note on Thursday, July 9th. Wall Street Zen downgraded Endeavour Silver from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Endeavour Silver in a research report on Friday, July 17th. Finally, Canadian Imperial Bank of Commerce downgraded Endeavour Silver from an “outperform” rating to a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Endeavour Silver Stock Down 12.7%

The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 43.79 and a beta of 1.43. 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 firm’s fifty day simple moving average is $9.66 and its two-hundred day simple moving average is $9.41.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Endeavour Silver had a return on equity of 17.46% and a net margin of 9.30%.The company had revenue of $212.10 million during the quarter, compared to analysts’ expectations of $210.79 million. Sell-side analysts anticipate that Endeavour Silver Corporation will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

Several hedge funds have recently made changes to their positions in EXK. TD Waterhouse Canada Inc. lifted its holdings in shares of Endeavour Silver by 223.5% during the second quarter. TD Waterhouse Canada Inc. now owns 3,500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 2,418 shares during the period. Harbor Investment Advisory LLC increased its holdings in shares of Endeavour Silver by 166.7% during the second quarter. Harbor Investment Advisory LLC now owns 4,000 shares of the mining company’s stock worth $33,000 after buying an additional 2,500 shares in the last quarter. Parvin Asset Management LLC grew its position in Endeavour Silver by 1.0% during the 1st quarter. Parvin Asset Management LLC now owns 325,775 shares of the mining company’s stock worth $3,033,000 after acquiring an additional 3,200 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Endeavour Silver during the 2nd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Endeavour Silver by 490.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,529 shares of the mining company’s stock valued at $52,000 after buying an additional 4,593 shares in the last quarter. Hedge funds and other institutional investors own 20.06% of the company’s stock.

Endeavour Silver Company Profile

Endeavour Silver Corp. is a Canadian precious-metals mining company focused on the acquisition, exploration, development, and operation of silver-gold properties. The company’s activities include underground mining, mineral processing, project development, and exploration for additional deposits.

Endeavour Silver’s operations and development assets are located primarily in Mexico, including the Guanaceví mine in Durango and the Bolañitos district in Guanajuato. The company has also advanced the Terronera project in Jalisco, a silver-gold development intended to support future production.