Endeavour Silver (NYSE:EXK) Shares Gap Up - Should You Buy?

Key Points

• Shares of Endeavour Silver gapped up, opening at $11.79 after a $11.26 close and last trading around $11.82 on heavy volume, while analysts hold a consensus “Moderate Buy” with a $14.50 target.
• The company missed quarterly expectations (EPS $0.02 vs. $0.03 expected; revenue $172.6M vs. $228M expected), reported a negative net margin (-27.5%), and is forecast to post -$0.07 EPS for the year.
• Several institutional investors have been accumulating shares—most notably Vanguard, which increased its stake by 1,631.7%—with institutions now owning roughly 20% of the stock.

Shares of Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR gapped up prior to trading on Tuesday . The stock had previously closed at $11.26, but opened at $11.79. Endeavour Silver shares last traded at $11.8240, with a volume of 1,470,530 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on EXK. Zacks Research upgraded shares of Endeavour Silver from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Endeavour Silver in a report on Wednesday, January 21st. National Bank Financial raised Endeavour Silver to a "strong-buy" rating in a research note on Tuesday, December 9th. Alliance Global Partners restated a "buy" rating on shares of Endeavour Silver in a report on Friday, January 9th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Endeavour Silver in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

Endeavour Silver Trading Up 4.4%

The company has a current ratio of 1.53, a quick ratio of 1.30 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -28.00 and a beta of 1.16. The business has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $9.25.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last released its earnings results on Friday, February 27th. The mining company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). Endeavour Silver had a negative net margin of 27.52% and a negative return on equity of 1.29%. The company had revenue of $172.60 million during the quarter, compared to analysts' expectations of $227.99 million. On average, equities analysts predict that Endeavour Silver Corporation will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On Endeavour Silver

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Endeavour Silver by 1,631.7% in the third quarter. Vanguard Group Inc. now owns 4,305,383 shares of the mining company's stock valued at $33,720,000 after buying an additional 4,056,768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $85,474,000 after buying an additional 3,005,563 shares during the period. Balyasny Asset Management L.P. purchased a new position in Endeavour Silver in the 3rd quarter valued at about $20,225,000. Alps Advisors Inc. grew its stake in shares of Endeavour Silver by 113.9% during the third quarter. Alps Advisors Inc. now owns 4,459,831 shares of the mining company's stock valued at $34,965,000 after acquiring an additional 2,374,365 shares in the last quarter. Finally, Condire Management LP lifted its stake in shares of Endeavour Silver by 200.0% in the third quarter. Condire Management LP now owns 3,000,000 shares of the mining company's stock worth $23,520,000 after acquiring an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds 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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