Endeavour Silver (TSE:EDR) Downgraded to "Neutral" Rating by Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce downgraded Endeavour Silver from “outperformer” to “neutral” and cut its price target from C$25.00 to C$20.00, which still implies 53.14% upside from the prior close.
• Shares fell 11.7% to C$13.06 on Wednesday. The stock has traded between C$9.27 and C$20.70 over the past year and has a high beta of 3.31.
• Despite the downgrade, analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Buy” rating and an average target price of C$18.03.

Endeavour Silver (TSE:EDR - Get Free Report) NYSE: EXK was downgraded by Canadian Imperial Bank of Commerce from an "outperformer" rating to a "neutral" rating in a report issued on Wednesday, BayStreet reports. They presently have a C$20.00 price target on the stock, down from their prior price target of C$25.00. Canadian Imperial Bank of Commerce's price objective would indicate a potential upside of 53.14% from the company's previous close.

EDR has been the subject of a number of other reports. B. Riley Financial upgraded Endeavour Silver to a "strong-buy" rating in a research note on Monday, August 3rd. TD set a C$15.00 target price on shares of Endeavour Silver and gave the company a "buy" rating in a research report on Monday, August 24th. Finally, National Bank Financial lifted their price target on shares of Endeavour Silver from C$24.00 to C$25.00 and gave the stock an "outperform" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of C$18.03.

Endeavour Silver Stock Down 11.7%

Shares of EDR stock traded down C$1.73 on Wednesday, hitting C$13.06. The stock had a trading volume of 1,679,802 shares, compared to its average volume of 1,270,409. Endeavour Silver has a one year low of C$9.27 and a one year high of C$20.70. The business has a 50 day moving average price of C$13.44 and a 200 day moving average price of C$13.07. The company has a market cap of C$3.87 billion, a PE ratio of 65.30, a P/E/G ratio of 0.76 and a beta of 3.31. The company has a quick ratio of 2.38, a current ratio of 1.97 and a debt-to-equity ratio of 34.64.

Endeavour Silver (TSE:EDR - Get Free Report) NYSE: EXK last posted its earnings results on Wednesday, July 29th. The company reported C$0.21 EPS for the quarter. Endeavour Silver had a net margin of 8.73% and a return on equity of 10.49%. The business had revenue of C$301.35 million for the quarter. Research analysts anticipate that Endeavour Silver will post 0.6341991 earnings per share for the current fiscal year.

About Endeavour Silver

Endeavour is a mid-tier silver producer with three operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer.

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