Endeavour Silver (NYSE:EXK) Shares Gap Down Following Weak Earnings

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.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR gapped down prior to trading 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 changing hands.

The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). Endeavour Silver had a positive return on equity of 1.18% and a negative net margin of 29.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. CIBC raised their target price 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. Ventum Cap Mkts upgraded shares of Endeavour Silver to a "strong-buy" rating in a research note on Friday, May 23rd. National Bankshares reiterated an "outperform" rating on shares of Endeavour Silver in a research note on Wednesday, July 16th. HC Wainwright lifted their price objective 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. Finally, Wall Street Zen cut shares of Endeavour Silver from a "hold" rating to a "sell" rating in a research note on Saturday. One 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $8.33.

Hedge Funds Weigh In On Endeavour Silver

Several hedge funds and other institutional investors have recently made changes to their positions in EXK. Tidal Investments LLC raised its position in shares of Endeavour Silver by 52.9% in the 4th quarter. Tidal Investments LLC now owns 11,178,812 shares of the mining company's stock valued at $40,914,000 after buying an additional 3,869,920 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Endeavour Silver in the 4th quarter valued at approximately $7,930,000. Invesco Ltd. raised its position in shares of Endeavour Silver by 529.5% in the 4th quarter. Invesco Ltd. now owns 2,116,652 shares of the mining company's stock valued at $7,747,000 after buying an additional 1,780,405 shares in the last quarter. Bastion Asset Management Inc. acquired a new position in shares of Endeavour Silver in the 2nd quarter valued at approximately $5,621,000. Finally, Azarias Capital Management L.P. acquired a new position in shares of Endeavour Silver in the 2nd quarter valued at approximately $5,606,000. 20.06% of the stock is currently owned by institutional investors and hedge funds.

Endeavour Silver Stock Down 6.0%

The company has a market capitalization of $1.57 billion, a P/E ratio of -20.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.77 and a current ratio of 1.14. The firm's fifty day moving average is $5.17 and its 200-day moving average is $4.31.

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.

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