Endeavour Silver (NYSE:EXK) Shares Down 6% - What's Next?

Key Points

• Shares fell about 6% to $9.62 intraday on Wednesday (closed prior at $10.24) with volume of 2.17M shares—roughly an 84% below the average session volume.
• Endeavour missed quarterly expectations, reporting EPS of $0.02 vs. $0.03 expected and revenue of $172.6M vs. $228.0M expected, and the company shows a negative net margin and ROE with analysts projecting FY EPS of -$0.07.
• Analyst sentiment remains generally positive: the consensus rating is Moderate Buy with a $14.50 consensus price target, and recent upgrades include HC Wainwright raising its target to $17 with a "buy" rating.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR traded down 6% during trading on Wednesday . The company traded as low as $9.53 and last traded at $9.6210. 2,169,569 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 13,756,924 shares. The stock had previously closed at $10.24.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HC Wainwright boosted their price target on shares of Endeavour Silver from $14.50 to $17.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. BMO Capital Markets reissued an "outperform" rating on shares of Endeavour Silver in a report on Monday, January 19th. Zacks Research upgraded shares of Endeavour Silver from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. National Bank Financial upgraded shares of Endeavour Silver to a "strong-buy" rating in a research note on Tuesday, December 9th. Finally, iA Financial set a $11.00 price objective on shares of Endeavour Silver in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Endeavour Silver Stock Down 5.5%

The firm has a market cap of $2.86 billion, a P/E ratio of -23.04 and a beta of 1.16. The firm's fifty day moving average is $11.90 and its 200 day moving average is $9.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.30 and a current ratio of 1.53.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last issued its quarterly earnings data on Friday, February 27th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $172.60 million for the quarter, compared to analyst estimates of $227.99 million. Endeavour Silver had a negative return on equity of 1.29% and a negative net margin of 27.52%. As a group, equities research analysts anticipate that Endeavour Silver Corporation will post -0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Endeavour Silver

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Endeavour Silver by 1,631.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company's stock worth $33,720,000 after purchasing an additional 4,056,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Endeavour Silver by 38.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,902,392 shares of the mining company's stock worth $85,474,000 after acquiring an additional 3,005,563 shares during the period. Balyasny Asset Management L.P. acquired a new position in Endeavour Silver in the 3rd quarter valued at $20,225,000. Alps Advisors Inc. grew its holdings in shares of Endeavour Silver by 113.9% during the 3rd quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company's stock worth $34,965,000 after purchasing an additional 2,374,365 shares in the last quarter. Finally, Condire Management LP increased its position in shares of Endeavour Silver by 200.0% in the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company's stock worth $23,520,000 after purchasing an additional 2,000,000 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. 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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