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

Key Points

• Endeavour Silver shares gapped down from a prior close of $10.66 to open at $10.07, later trading near $10.17 on volume of roughly 3.27 million shares.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $14.50, despite recent downgrades to “hold” and a “sell” rating.
• The company met quarterly EPS expectations at $0.15 and slightly exceeded revenue forecasts with $212.1 million, while institutional investors increased holdings; hedge funds and other institutions own about 20.06% of the stock.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR shares gapped down before the market opened on Monday . The stock had previously closed at $10.66, but opened at $10.07. Endeavour Silver shares last traded at $10.1650, with a volume of 3,267,321 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Endeavour Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. B. Riley Financial initiated coverage on shares of Endeavour Silver in a research note on Monday, August 3rd. They issued a "buy" rating and a $14.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Endeavour Silver in a research report on Friday, July 17th. Zacks Research upgraded Endeavour Silver from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 30th. Finally, HC Wainwright restated a "buy" rating and set a $17.00 target price on shares of Endeavour Silver in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six 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 currently has an average rating of "Moderate Buy" and an average target price of $14.50.

Endeavour Silver Stock Performance

The business has a fifty day moving average of $8.41 and a 200 day moving average of $9.74. The company has a market cap of $3.03 billion, a P/E ratio of 48.79 and a beta of 1.35. The company has a quick ratio of 1.65, a current ratio of 1.97 and a debt-to-equity ratio of 0.34.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. Endeavour Silver had a net margin of 9.30% and a return on equity of 17.46%. The business had revenue of $212.10 million for the quarter, compared to the consensus estimate of $210.79 million. On average, equities analysts predict that Endeavour Silver Corporation will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Endeavour Silver

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $85,474,000 after purchasing an additional 3,005,563 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Endeavour Silver by 2.7% during the fourth quarter. Van ECK Associates Corp now owns 9,794,705 shares of the mining company's stock valued at $92,071,000 after acquiring an additional 261,196 shares in the last quarter. Vanguard Group Inc. lifted its position in Endeavour Silver by 83.5% in the 4th quarter. Vanguard Group Inc. now owns 7,899,506 shares of the mining company's stock valued at $74,303,000 after acquiring an additional 3,594,123 shares in the last quarter. Condire Management LP lifted its position in Endeavour Silver by 50.1% in the 4th quarter. Condire Management LP now owns 4,503,543 shares of the mining company's stock valued at $42,333,000 after acquiring an additional 1,503,543 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Endeavour Silver by 42.8% during the 4th quarter. BNP Paribas Financial Markets now owns 3,039,797 shares of the mining company's stock valued at $28,574,000 after purchasing an additional 910,378 shares during the last quarter. Hedge funds and other institutional investors own 20.06% of the company's stock.

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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