Endeavour Silver (NYSE:EXK) Releases Quarterly Earnings Results, Hits Expectations

Key Points

• Endeavour Silver met earnings expectations, reporting quarterly EPS of $0.15, in line with the analyst consensus. Despite positive return on equity of 9.33%, the company posted a negative net margin of 3.68%.
• Shares fell 2.8% to $7.53 during Wednesday trading, well below the 52-week high of $15.15. The stock has a market capitalization of approximately $2.23 billion and a price-to-earnings ratio of -94.13.
• Analyst sentiment remains generally positive, with a “Moderate Buy” average rating and an average price target of $14.50, although recent ratings included downgrades to “Hold” and “Sell.” Institutional investors own 20.06% of the company.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR announced its earnings results on Wednesday. The mining company reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15, Zacks reports. Endeavour Silver had a negative net margin of 3.68% and a positive return on equity of 9.33%.

Endeavour Silver Stock Down 2.8%

NYSE:EXK traded down $0.22 during trading hours on Wednesday, reaching $7.53. The company had a trading volume of 9,336,346 shares, compared to its average volume of 9,983,195. Endeavour Silver has a twelve month low of $4.91 and a twelve month high of $15.15. The company has a quick ratio of 1.39, a current ratio of 1.70 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -94.13 and a beta of 1.33. The business's 50-day simple moving average is $8.47 and its two-hundred day simple moving average is $9.99.

Hedge Funds Weigh In On Endeavour Silver

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in Endeavour Silver by 389.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,583 shares of the mining company's stock valued at $43,000 after buying an additional 3,647 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Endeavour Silver in the fourth quarter worth $96,000. Franklin Resources Inc. purchased a new stake in Endeavour Silver during the fourth quarter worth about $100,000. Schroder Investment Management Group raised its stake in shares of Endeavour Silver by 8.8% in the fourth quarter. Schroder Investment Management Group now owns 10,966 shares of the mining company's stock valued at $107,000 after buying an additional 887 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Endeavour Silver during the fourth quarter worth about $126,000. Institutional investors own 20.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Zacks Research upgraded Endeavour Silver from a "strong sell" rating to a "hold" rating in a report on Thursday, April 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Endeavour Silver in a research note on Friday, July 17th. Wall Street Zen lowered Endeavour Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $17.00 target price on shares of Endeavour Silver in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Endeavour Silver currently has an average rating of "Moderate Buy" and an average target price of $14.50.

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.

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