Endeavour Silver (NYSE:EXK) Shares Gap Down - Time to Sell?

Key Points

• Endeavour Silver's shares experienced a significant gap down at market open, dropping from a previous close of $7.92 to open at $7.50, with the stock last trading at $8.04.
• The company received mixed analyst ratings, with Zacks Research downgrading it to "strong sell" while others, including CIBC, raised their target price from $7.25 to $10.00 and assigned a "neutral" rating.
• Endeavour Silver reported a loss of ($0.03) earnings per share for the last quarter, missing consensus estimates, while generating $85.30 million in revenue.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR gapped down before the market opened on Tuesday . The stock had previously closed at $7.92, but opened at $7.50. Endeavour Silver shares last traded at $8.04, with a volume of 2,517,802 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXK. Zacks Research downgraded Endeavour Silver from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 23rd. Wall Street Zen raised Endeavour Silver from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. CIBC upped their target price on 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 Endeavour Silver to a "strong-buy" rating in a research note on Thursday, June 12th. Finally, HC Wainwright increased their price objective on Endeavour Silver from $7.25 to $8.75 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $8.33.

Endeavour Silver Trading Up 0.1%

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 has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $4.86. The company has a market capitalization of $2.32 billion, a PE ratio of -29.35 and a beta of 1.30.

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

Hedge Funds Weigh In On Endeavour Silver

A number of hedge funds have recently modified their holdings of the business. Jupiter Asset Management Ltd. grew its holdings in shares of Endeavour Silver by 2.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 10,557,111 shares of the mining company's stock worth $51,916,000 after purchasing an additional 223,457 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Endeavour Silver by 19.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,896,829 shares of the mining company's stock worth $38,852,000 after purchasing an additional 1,274,094 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Endeavour Silver by 13.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,454,734 shares of the mining company's stock worth $26,895,000 after purchasing an additional 643,641 shares during the period. TD Asset Management Inc grew its holdings in shares of Endeavour Silver by 19.9% during the 2nd quarter. TD Asset Management Inc now owns 4,458,979 shares of the mining company's stock worth $21,927,000 after purchasing an additional 740,046 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Endeavour Silver by 56.0% during the 1st quarter. Invesco Ltd. now owns 3,301,752 shares of the mining company's stock worth $14,098,000 after purchasing an additional 1,185,100 shares during the period. 20.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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