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

Key Points

• Endeavour Silver's stock price gapped down from $9.33 to $8.30 prior to market opening on Tuesday, with the last traded price at $8.11.
• Analysts have mixed ratings on the stock, with an average rating of "Moderate Buy" and an average price target of $8.67, while Weiss Ratings has assigned a "sell" rating.
• The company reported a quarterly loss of ($0.03) EPS, missing the consensus estimate of $0.01, with revenue of $85.30 million exceeding analyst expectations of $81.48 million.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's share price gapped down prior to trading on Tuesday . The stock had previously closed at $9.33, but opened at $8.30. Endeavour Silver shares last traded at $8.11, with a volume of 4,451,220 shares traded.

Analyst Ratings Changes

A number of analysts have weighed in on EXK shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Endeavour Silver in a report on Wednesday, October 8th. CIBC boosted their price objective 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. Wall Street Zen raised shares of Endeavour Silver from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. HC Wainwright lifted their target price on Endeavour Silver from $8.75 to $9.75 and gave the company a "buy" rating in a research note on Thursday, October 9th. Finally, Zacks Research cut Endeavour Silver from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Endeavour Silver currently has an average rating of "Moderate Buy" and an average price target of $8.67.

Endeavour Silver Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The company's 50-day moving average is $6.90 and its two-hundred day moving average is $5.28. The stock has a market capitalization of $2.41 billion, a P/E ratio of -30.58 and a beta of 1.29.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last announced its quarterly earnings results 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 net margin of 28.49% and a negative return on equity of 0.62%. The firm had revenue of $85.30 million during the quarter, compared to analyst estimates of $81.48 million. As a group, sell-side analysts anticipate that Endeavour Silver Corporation will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in Endeavour Silver in the second quarter worth about $29,000. Total Investment Management Inc. acquired a new stake in Endeavour Silver during the 2nd quarter valued at $41,000. Hohimer Wealth Management LLC lifted its holdings in shares of Endeavour Silver by 28.9% in the first quarter. Hohimer Wealth Management LLC now owns 13,015 shares of the mining company's stock valued at $56,000 after purchasing an additional 2,915 shares in the last quarter. Centric Wealth Management acquired a new stake in shares of Endeavour Silver in the second quarter worth $60,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Endeavour Silver by 46,309.7% during the first 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 in the last quarter. Institutional investors own 20.06% of the company's stock.

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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