Endeavour Silver (NYSE:EXK) Shares Gap Up - Here's Why

Key Points

• Endeavour Silver shares gapped higher, opening at $10.35 versus the prior close of $9.66 and later trading near $10.63 on volume of about 1.65 million shares.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating with a $14.50 price target; recent targets include $17 from HC Wainwright and $14 from B. Riley.
• The company reported quarterly revenue of $212.1 million and earnings of $0.15 per share, matching analyst expectations. Institutional investors own approximately 20.06% of the stock.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR's stock price gapped up prior to trading on Wednesday . The stock had previously closed at $9.66, but opened at $10.35. Endeavour Silver shares last traded at $10.6340, with a volume of 1,652,148 shares changing hands.

Wall Street Analyst Weigh In

EXK has been the subject of a number of recent analyst reports. Wall Street Zen cut Endeavour Silver from a "buy" rating to a "hold" rating in a research report on Saturday, July 18th. HC Wainwright restated a "buy" rating and set a $17.00 price objective on shares of Endeavour Silver in a research report on Thursday, July 9th. Zacks Research raised shares of Endeavour Silver from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Endeavour Silver in a report on Friday, July 17th. Finally, B. Riley Financial initiated coverage on shares of Endeavour Silver in a report on Monday, August 3rd. They issued a "buy" rating and a $14.00 price objective on the stock. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Endeavour Silver Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.65 and a current ratio of 1.97. The stock's fifty day moving average price is $8.49 and its 200-day moving average price is $9.68. The firm has a market cap of $3.25 billion, a PE ratio of 52.20 and a beta of 1.35.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last announced its earnings results on Wednesday, July 29th. The mining company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. Endeavour Silver had a return on equity of 17.46% and a net margin of 9.30%.The firm had revenue of $212.10 million for the quarter, compared to analysts' expectations of $210.79 million. As a group, equities analysts forecast that Endeavour Silver Corporation will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Endeavour Silver

Several institutional investors and hedge funds have recently modified their holdings of the company. Schroder Investment Management Group lifted its stake in shares of Endeavour Silver by 8.8% in the fourth quarter. Schroder Investment Management Group now owns 10,966 shares of the mining company's stock worth $107,000 after acquiring an additional 887 shares in the last quarter. Quarry LP grew its stake in Endeavour Silver by 2.0% during the 3rd quarter. Quarry LP now owns 74,258 shares of the mining company's stock valued at $582,000 after purchasing an additional 1,490 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Endeavour Silver by 15.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 13,598 shares of the mining company's stock valued at $128,000 after purchasing an additional 1,836 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Endeavour Silver by 166.7% during the 2nd quarter. Harbor Investment Advisory LLC now owns 4,000 shares of the mining company's stock worth $33,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Endeavour Silver by 3.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,315 shares of the mining company's stock worth $598,000 after purchasing an additional 2,664 shares during the last quarter. Hedge funds and other institutional investors own 20.06% of the company's stock.

About Endeavour Silver

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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