Endeavour Silver (NYSE:EXK) Shares Gap Down – What’s Next?

Shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) gapped down before the market opened on Thursday . The stock had previously closed at $11.88, but opened at $10.90. Endeavour Silver shares last traded at $10.7120, with a volume of 3,842,502 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EXK. Industrial Alliance Securities set a $11.00 target price on Endeavour Silver in a report on Friday, January 9th. Raymond James Financial reiterated an “outperform” rating on shares of Endeavour Silver in a research note on Wednesday, January 14th. Natl Bk Canada raised Endeavour Silver to a “strong-buy” rating in a research report on Tuesday, December 9th. B. Riley boosted their price objective on Endeavour Silver from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Endeavour Silver in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.88.

Endeavour Silver Trading Down 9.0%

The business’s 50 day moving average price is $10.46 and its 200-day moving average price is $8.15. The company has a current ratio of 0.79, a quick ratio of 0.57 and a debt-to-equity ratio of 0.23. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -31.75 and a beta of 1.23.

Endeavour Silver (NYSE:EXK) (TSE:EDR) last issued its quarterly earnings results on Friday, November 7th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). Endeavour Silver had a negative net margin of 31.18% and a negative return on equity of 1.34%. The company had revenue of $111.40 million during the quarter, compared to the consensus estimate of $162.05 million. On average, equities analysts anticipate that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Endeavour Silver

Hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new stake in Endeavour Silver in the fourth quarter worth about $47,000. Total Investment Management Inc. purchased a new stake in Endeavour Silver in the 2nd quarter worth $41,000. Greenberg Financial Group purchased a new stake in shares of Endeavour Silver in the fourth quarter worth about $94,000. Centric Wealth Management bought a new position in shares of Endeavour Silver during the 2nd quarter valued at approximately $60,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Endeavour Silver during the 4th quarter valued at about $105,000. 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.