Endeavour Silver (NYSE:EXK) Shares Gap Down After Earnings Miss

Key Points

• Endeavour Silver shares gapped down from $5.75 to $5.21 after reporting a loss of ($0.03) earnings per share, missing analysts' expectations of $0.01.
• Despite the weak earnings report, several analysts still maintain a positive outlook, with target price estimates ranging from $7.25 to $10.00 and an average rating of "Buy."
• Institutional investors have made significant investments in Endeavour Silver, with notable increases in holdings by Tidal Investments LLC and Invesco Ltd., reflecting growing interest in the company's stock.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $5.75, but opened at $5.21. Endeavour Silver shares last traded at $5.39, with a volume of 7,784,788 shares trading hands.

The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). The business had revenue of $85.30 million during the quarter, compared to the consensus estimate of $81.48 million. Endeavour Silver had a negative net margin of 28.49% and a negative return on equity of 0.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Ventum Cap Mkts raised shares of Endeavour Silver to a "strong-buy" rating in a report on Friday, May 23rd. HC Wainwright upped their price objective on shares of Endeavour Silver from $7.25 to $8.75 and gave the company a "buy" rating in a research note on Wednesday, July 9th. CIBC increased their price target on shares of 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 shares of Endeavour Silver to a "strong-buy" rating in a research report on Thursday, June 12th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Endeavour Silver in a research report on Wednesday, July 16th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $8.33.

Institutional Trading of Endeavour Silver

A number of institutional investors and hedge funds have recently bought and sold shares of EXK. CANADA LIFE ASSURANCE Co grew its stake in shares of Endeavour Silver by 545.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 131,502 shares of the mining company's stock worth $637,000 after acquiring an additional 111,121 shares during the period. Vident Advisory LLC lifted its holdings in Endeavour Silver by 9.1% during the second quarter. Vident Advisory LLC now owns 248,967 shares of the mining company's stock valued at $1,225,000 after purchasing an additional 20,817 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Endeavour Silver during the second quarter valued at approximately $1,617,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Endeavour Silver by 18.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 175,688 shares of the mining company's stock valued at $866,000 after acquiring an additional 27,973 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Endeavour Silver by 186.5% during the second quarter. Bank of America Corp DE now owns 1,225,813 shares of the mining company's stock valued at $6,031,000 after purchasing an additional 798,005 shares in the last quarter. 20.06% of the stock is currently owned by institutional investors.

Endeavour Silver Price Performance

The stock's 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $4.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.93 and a quick ratio of 0.65. The firm has a market cap of $1.62 billion, a P/E ratio of -20.67 and a beta of 1.23.

About Endeavour Silver

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.