Endeavour Silver Corporation (EXK) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Endeavour Silver Corporation (NYSE:EXK) (TSE:EDR) from a hold rating to a strong sell rating in a research note released on Thursday.

According to Zacks, “ENDEAVOUR SILVER CORP. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour’s two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company’s acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide. Endeavour stands out from other silver mining companies for the strong organic growth potential of its core assets, its high silver grades and leverage, the substantial exploration upside of its Mexican mining properties, and the significant under-utilized capacities of the Guanacevi and Bolanitos plants. “

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reiterated a buy rating and issued a $6.00 target price on shares of Endeavour Silver Corporation in a research report on Tuesday, July 4th. Noble Financial reiterated a buy rating on shares of Endeavour Silver Corporation in a research report on Friday, August 4th. Canaccord Genuity initiated coverage on shares of Endeavour Silver Corporation in a research report on Thursday, September 7th. They issued a hold rating for the company. BidaskClub downgraded shares of Endeavour Silver Corporation from a hold rating to a sell rating in a research report on Thursday, July 6th. Finally, ValuEngine downgraded shares of Endeavour Silver Corporation from a hold rating to a sell rating in a research report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Endeavour Silver Corporation currently has an average rating of Hold and a consensus target price of $5.25.

Shares of Endeavour Silver Corporation (NYSE:EXK) traded down 0.79% on Thursday, reaching $2.51. The company’s stock had a trading volume of 1,090,130 shares. The stock has a 50-day moving average of $2.47 and a 200 day moving average of $2.82. Endeavour Silver Corporation has a 1-year low of $2.08 and a 1-year high of $5.07. The stock has a market capitalization of $319.91 million, a PE ratio of 49.22 and a beta of -0.05.

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Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG raised its holdings in shares of Endeavour Silver Corporation by 16.0% during the 1st quarter. UBS Group AG now owns 742,981 shares of the mining company’s stock valued at $2,363,000 after purchasing an additional 102,656 shares in the last quarter. ETF Managers Group LLC bought a new position in shares of Endeavour Silver Corporation during the 2nd quarter valued at $2,361,000. Sprott Inc. raised its holdings in shares of Endeavour Silver Corporation by 38.5% during the 2nd quarter. Sprott Inc. now owns 693,316 shares of the mining company’s stock valued at $2,115,000 after purchasing an additional 192,557 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Endeavour Silver Corporation by 0.5% during the 1st quarter. Renaissance Technologies LLC now owns 5,476,800 shares of the mining company’s stock valued at $17,416,000 after purchasing an additional 29,500 shares in the last quarter. Finally, Pacad Investment Ltd. raised its holdings in shares of Endeavour Silver Corporation by 94.0% during the 2nd quarter. Pacad Investment Ltd. now owns 74,090 shares of the mining company’s stock valued at $226,000 after purchasing an additional 35,900 shares in the last quarter. Institutional investors and hedge funds own 25.09% of the company’s stock.

Endeavour Silver Corporation Company Profile

Endeavour Silver Corp. is engaged in silver mining in Mexico, and related activities, including property acquisition, exploration, development, mineral extraction, processing, refining and reclamation. The Company is engaged in exploration activities in Chile. The Company’s operating mining segments include Guanacevi, Bolanitos and El Cubo, which are located in Mexico, as well as Exploration and Corporate segments.

Analyst Recommendations for Endeavour Silver Corporation (NYSE:EXK)

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