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

Key Points

• Endeavour Silver's stock price gapped up from $6.24 to $6.51 before trading at $6.41, with over 3.9 million shares exchanged.
• Analysts have recognized a positive shift in the stock's rating, with several upgrading it to "strong-buy" and "buy" categories, indicating a bullish outlook with an average price target of $8.33.
• Despite a quarterly earnings miss, where the company reported a loss of $0.03 per share against expectations of $0.01, Endeavour Silver saw increased revenue of $85.30 million, exceeding analyst estimates.

Endeavour Silver Corporation (NYSE:EXK - Get Free Report) TSE: EDR shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.24, but opened at $6.51. Endeavour Silver shares last traded at $6.41, with a volume of 3,957,061 shares trading hands.

Analysts Set New Price Targets

EXK has been the topic of a number of analyst reports. Wall Street Zen raised Endeavour Silver from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. HC Wainwright boosted their price target on Endeavour Silver from $7.25 to $8.75 and gave the company a "buy" rating in a report on Wednesday, July 9th. CIBC boosted their price target on Endeavour Silver from $7.25 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Endeavour Silver in a report on Wednesday, July 16th. Finally, National Bank Financial upgraded Endeavour Silver to a "strong-buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $8.33.

Endeavour Silver Stock Down 2.5%

The business has a fifty day moving average of $5.55 and a 200-day moving average of $4.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.93 and a quick ratio of 0.65. The stock has a market cap of $1.74 billion, a PE ratio of -22.17 and a beta of 1.30.

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

Institutional Trading of Endeavour Silver

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in Endeavour Silver by 239.2% during the fourth quarter. Bank of America Corp DE now owns 256,399 shares of the mining company's stock worth $938,000 after buying an additional 180,800 shares during the period. Deutsche Bank AG lifted its holdings in Endeavour Silver by 5,119.2% during the fourth quarter. Deutsche Bank AG now owns 416,856 shares of the mining company's stock worth $1,526,000 after buying an additional 408,869 shares during the period. BNP Paribas Financial Markets purchased a new stake in Endeavour Silver during the fourth quarter worth $732,000. Two Sigma Investments LP lifted its holdings in Endeavour Silver by 88.4% during the fourth quarter. Two Sigma Investments LP now owns 727,762 shares of the mining company's stock worth $2,664,000 after buying an additional 341,468 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Endeavour Silver by 17.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 84,604 shares of the mining company's stock worth $361,000 after buying an additional 12,660 shares during the period. Hedge funds and other 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.