Endeavour Silver (NYSE:EXK) Shares Down 4.5% - Here's What Happened

Key Points

• Endeavour Silver's shares dropped by 4.5% during mid-day trading, reaching a low of $6.23, which is a significant decline from the previous close of $6.48.
• Despite positive analyst upgrades, including a price target increase to $10.00 from CIBC, the company missed earnings expectations by reporting a loss of ($0.03) EPS.
• Institutional investors own approximately 20.06% of Endeavour Silver, with hedge funds recently increasing their holdings significantly.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's stock price was down 4.5% during mid-day trading on Tuesday . The company traded as low as $6.23 and last traded at $6.19. Approximately 3,045,959 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 11,711,519 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EXK shares. CIBC raised their price objective on shares of Endeavour Silver from $7.25 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. National Bank Financial raised shares of Endeavour Silver to a "strong-buy" rating in a report on Thursday, June 12th. National Bankshares reissued an "outperform" rating on shares of Endeavour Silver in a research note on Wednesday, July 16th. HC Wainwright raised their target price on Endeavour Silver from $7.25 to $8.75 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen upgraded Endeavour Silver from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Endeavour Silver presently has an average rating of "Buy" and an average price target of $8.33.

Endeavour Silver Stock Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -25.04 and a beta of 1.30. The firm's 50-day moving average is $5.76 and its two-hundred day moving average is $4.71. The company has a current ratio of 0.93, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last posted its quarterly earnings data on Wednesday, August 13th. The mining company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.04). Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%.The firm had revenue of $85.30 million for the quarter, compared to analysts' expectations of $81.48 million. As a group, sell-side analysts expect that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EXK. ORG Partners LLC purchased a new stake in Endeavour Silver in the 2nd quarter valued at $29,000. Total Investment Management Inc. acquired a new stake in Endeavour Silver during the second quarter worth about $41,000. Hohimer Wealth Management LLC raised its stake in Endeavour Silver by 28.9% during the first quarter. Hohimer Wealth Management LLC now owns 13,015 shares of the mining company's stock worth $56,000 after purchasing an additional 2,915 shares during the period. Centric Wealth Management acquired a new position in Endeavour Silver in the 2nd quarter valued at about $60,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Endeavour Silver by 46,309.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 14,387 shares of the mining company's stock valued at $61,000 after buying an additional 14,356 shares during the period. 20.06% of the stock is currently owned by institutional investors and hedge funds.

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.