Endeavour Silver (NYSE:EXK) Downgraded by Wall Street Zen to Sell

Key Points

• Endeavour Silver has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a bearish outlook on the stock.
• Despite the downgrade, other analysts have issued positive ratings varying from "buy" to "strong buy", with an average target price set at $8.33.
• Endeavour Silver reported a $0.13 loss per share for its latest quarter, significantly missing analysts' expectations, highlighting ongoing financial challenges for the company.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright upped their price target on shares of Endeavour Silver from $7.25 to $8.75 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. National Bankshares reaffirmed an "outperform" rating on shares of Endeavour Silver in a research report on Wednesday, July 16th. CIBC lifted their price objective on Endeavour Silver from $7.25 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. National Bank Financial raised Endeavour Silver to a "strong-buy" rating in a research report on Thursday, June 12th. Finally, Ventum Cap Mkts raised Endeavour Silver to a "strong-buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Endeavour Silver currently has a consensus rating of "Buy" and an average price target of $8.33.

Endeavour Silver Price Performance

Shares of Endeavour Silver stock traded up $0.18 on Friday, hitting $5.72. 8,799,922 shares of the company traded hands, compared to its average volume of 11,768,842. The firm's 50-day simple moving average is $5.13 and its 200 day simple moving average is $4.30. The company has a current ratio of 1.14, a quick ratio of 0.77 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.66 billion, a P/E ratio of -22.02 and a beta of 1.23. Endeavour Silver has a 12-month low of $2.63 and a 12-month high of $6.04.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last issued its earnings results on Tuesday, May 13th. The mining company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.16). The business had revenue of $63.50 million during the quarter, compared to analysts' expectations of $83.10 million. Endeavour Silver had a positive return on equity of 1.18% and a negative net margin of 29.07%. Analysts expect that Endeavour Silver will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endeavour Silver

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Endeavour Silver by 3.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 73,651 shares of the mining company's stock worth $362,000 after acquiring an additional 2,129 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Endeavour Silver by 5.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,256 shares of the mining company's stock worth $203,000 after purchasing an additional 2,161 shares during the period. LPL Financial LLC boosted its position in Endeavour Silver by 1.0% during the 4th quarter. LPL Financial LLC now owns 282,520 shares of the mining company's stock valued at $1,034,000 after acquiring an additional 2,661 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in Endeavour Silver by 28.9% during the 1st quarter. Hohimer Wealth Management LLC now owns 13,015 shares of the mining company's stock valued at $56,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in Endeavour Silver by 23.9% during the 1st quarter. Atria Wealth Solutions Inc. now owns 26,494 shares of the mining company's stock valued at $113,000 after acquiring an additional 5,116 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., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.